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The Cash account of Gate City Security Systems reported a balance of $2,530 at December 31,2024 . There were outstanding checks totaling $1,000 and a

image text in transcribed The Cash account of Gate City Security Systems reported a balance of $2,530 at December 31,2024 . There were outstanding checks totaling $1,000 and a December 31 deposit in transit of $200. The bank statement, which came from Tri Cities Bank, listed the December 31 balance of $3,970. Included in the bank balance was a collection of $650 on account from Carol Lajoy, a Gate City customer who pays the bank directly. The bank statement also shows a $20 service charge and $10 of interest revenue that Gate City earned on its bank balance. Prepare Gate City's bank reconciliation at December 31. Gate City Security Systems Bank Reconciliation December 31, 2024 Bank: Balance, December 31, 2024 ADD: LESS: Adjusted bank balance, December 31, 2024 Book: Balance, December 31, 2024 ADD: LESS: Adjusted book balance, December 31, 2024

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