You are working for a company that asked you to check the bank statement balance and details against the company's general ledger.

You gather all these details:

Outstanding cheques at January 31st are $9,000

A deposit of $3025 made on January 30th is in transit and had not cleared the bank by January 31st.

An automatic payment for $9,000 was erroneously charged by the bank against your account while it belongs to another bank

customer (bank error).

The bank statement for January shows a balance of $24,500 at January 31st.

The company operates with one bank that offers a regular chequing account and a business line of credit at 8% per year.

Required 1: After preparing the bank reconciliation what is the adjusted Bank Statement balance at month end to reflect this

information? $

Required 2: After preparing the bank reconciliation what is the correct adjusted Cash balance in the company's books to reflect this

information? $