The cash balance per the books of White Company is $105,766 on December 31, 2020. The bank statement for White shows a cash balance of $113,689 on December 31. The following additional items were noted: 1 A deposit of $21,600 made by White on December 31 was not recorded by the bank until January 2. Outstanding cheques (cheques written by White but not yet cleared by the bank) at Nov. 30 were: 2. #1012 for $12,200 #1044 for $5.900 #1078 for $4.100 Outstanding cheques (cheques written by White but not yet cleared by the bank) at Dec 31 are: 3. #1044 for $5.900 #1110 for $17.400 #1168 for $10,700 #1198 for $900 A review of the bank statement revealed that White Company received electronic payments from customers making payments on their accounts of $1,075 in December. The bank has also credited White's account with $20 of interest revenue on December 31. White had no previous notice of these amounts and had not accrued any interest The bank statement showed an NSF charge on December 31 of $3.970. A cheque for $3.970 from a customer Light Networks Limited, which had been deposited in December, was returned by the bank on December 31 marked "NSF" Included in the cancelled cheques returned with the December bank statement was a cheque for $2,501 written by Brown Inc., which had been incorrectly debited to White's account by the bank. 4. 5. 6. A White cheque (#457) for $629 dated December 22 cleared the bank on December 24. This cheque, which was a payment on account to a supplier was incorrectly journalized by White for $692 The bank service charges for December amounted to 564 7 Prepare the bank reconciliation for December 31, 2020. (List Items that increase balance as per bank and books first) WHITE COMPANY Bank Reconciliation December 31, 2020 Adjusted Cash Balance per Bank Bank Error Bank Service Charge Cash Balonce per Bank Statement, December 31 Deposits in Transit EFT Collections from Customers Error in Recording Cheque #457 Interest Revenue NSF Cheque Outstanding cheque #1044 Outstanding cheque 1110 Outstanding cheque #1168 Outstanding cheque #1198 What adjusting entries are needed? (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Dec. 31 Debit Credit (To record NSF cheque) Dec 31 (To record bank service charges) Dec 31 (To correct error in recording cheque #457) Dec. 31 (To record EFT payments received from customers) Dec 31 (To record interest received) What will be the cash account balance on the statement of financial position at December 31? Cash account balance 5