You are an accountant forWrigleyInc., (a company that makesbaseballequipment). The CEO,Joe Madden, has asked you to prepare the December bank reconciliation for the companys operating cash account (Account #100).

The CEO provided you with the December2015bank statement. After you review the bank statement, you have noted a few items:

The December2015end of month balance on the bank statementfor cash Account #100 was $67,201.

On 12/31, you noted that the bank chargedWrigleyInc. $25 for a monthly service fee and $30 for ordering another set of checks.

The bank called on January2nd, 2016to let you know that they accidentally deposited a checkonDecember28thwritten toAntony Rizzoli (CFO)into theWrigleyaccount rather thanAnothyRizzolis personal account.

The deposit was for $1,580.They correctedthe accounts on January3rd, 2016.

On 12/15, a customers check (SchwarbersInc) for $1,367 had non-sufficient funds.

In addition to not depositing the money into operating cash account, the bank chargedWrigleyInc.s account a $10.00 fee due to the customers check bouncing.

You obtain the companys unadjusted trial balance as of December 31, 2015. Per your review of the account balances, you identify that the company has a cash balance in Account #100in the amount of$90,075.

You also noted that Acct #101 (the payroll cash account) has a balance of $15,402.

You identify that the company has written $15,200 in checks that have not cleared the bank as of the end of December.

On December 31, 2015, the cashier for the company deposited $38,402 from customer checks into the operating cash account. This12/31deposit is not on the December bank statement.

As you are reviewing the checks that cleared the bank, you identified that the insurance check that you wrote was correctly written for $1,460 on December 1st.After reviewing the insurance policy bill you identified that the premium paymentneeded to be $1,460.

However,you identified thatthe accounting clerk made the following entryon Dec. 1st(you do not need to investigate the adjusting entry for end of December in relation to the insurance expense):

Prepaid Insurance 1,640

Cash 1,640

Instructions:Prepare the companys bank reconciliation for December 2015.Also, prepare theDec.31stjournal entries to correct the ending cash balance.