The Lucid Company's bank statement for the month of October showed a balance per bank of$24,500. The company's Cash at Bank account in the general ledger showed a balance of$21.125 at 31 October. Other information is as follows: (1) Cash receipts for 31 October recorded on the company's books were $11,500 but this amountdoes not appear on the bank statement. (2) The bank statement shows a debit memorandum for $1,000 for cheque printing charges. (3)The total amount of cheques still outstanding on 31 October amounted to $7,250. (4)Cheque No.413 was correctly written and paid by the bank for $l,050. The cash paymentjournal reflects an entry for Cheque No.413 as a debit to Cash in Bank for $1.750 and a creditto Accounts Payable. (5)The bank returned a dishonoured cheque from a customer for $2.200 (6)The bank included a credit memorandum for $13,625, which represents collection of acustomer's note by the bank for the company; principal amount of the note was $13,000,interest was $800, and collection fee was $175. Interest has not been accrued.

Required a bank reconciliation for the Lucid Company at 31 October.

Question 1 (S marks) The Lucid Company's bank statement for the month of October showed a balance per bank of $24,500. The company's Cash at Bank account in the general ledger showed a balance of $21,125 at 31 October. Other information is as follows: (1) Cash receipts for 31 October recorded on the company's books were $11,500 but this amount does not appear on the bank statement. (2) The bank statement shows a debit memorandum for $1,000 for cheque printing charges. (3) The total amount of cheques still outstanding on 31 October amounted to $7,250. (4) Cheque No.413 was correctly written and paid by the bank for $1,050. The cash payment journal reflects an entry for Cheque No.413 as a debit to Cash in Bank for $1,750 and a credit to Accounts Payable. (5) The bank returned a dishonoured cheque from a customer for $2,200. (6) The bank included a credit memorandum for $13,625, which represents collection of a customer's note by the bank for the company; principal amount of the note was $13,000, interest was $800, and collection fee was $175. Interest has not been accrued. Required Prepare a bank reconciliation for the Lucid Company at 31 October