Your Audit Senior has tabbed you to complete the Cash Audit in support of Randle Company's financial statement audit Assume you have received the bank statement independent of the client directly from the bank. The general ledger is a print-out received from the client. The $57,998.50 is the dollar amount that appears on the client's partial trail balance as listed below Trial Balance Randle Company 1/31/2020 Debit Credit Cash Accounts Receivable Inventory $57,998.50 82,015.00 529,995.00 Required: 1) Create a bank reconciliation in excel using the bank statement and general ledger provided. Please use the form attached to this assignment to guide your format and make sure to include your "completed by" and "date" information for this workpaper. Please indicate a description of your reconciling line items (deposit-in-transit, NSF check, book error, etc.) along with its reconciling amount. Make sure to list all outstanding checks with their check number individually. Upload this excel file to Canvas. 2) Review your completed bank reconciliation closely before submitting it. In the comments section of your Canvas submission, list any concerns that you would relay to your Audit Senior regarding your completed bank reconciliation procedure. If you do not have any information or issues to relay, please state that fact. Macon National Bank Randle Boat Company January 2020 Bank Statement Trans Amt Date Trans Description 1/1/20 Beginning Balance 1/4/20 Check 101 1/6/20 Check 102 1/7/20 Deposit 1/10/20 Check 103 1/14/20 EFT Collection: Customer Account #626: McDuffie 1/16/20 Teller Transaction: Transfer from Savings: Savings Account Debit 1/18/20 Check 105 1/21/20 Check 106 1/21/20 Check 107 1/22/20 Deposit 1/23/20 Deposit: Sandle Car Company 1/24/20 NSF Check 1/24/20 NSF Check Charge 1/25/20 EFT Collection: Customer Account #85: Jones 1/28/20 Bill Pay: Electronic Debit: Payee: Baldwin County Utilities Invoice 01-225 1/30/20 Check 109 1/30/20 Check 110 1/31/20 Service Charge 1/31/20 Interest Earned Ending Balance -35.00 -3,500.00 18,000.00 -2,300.00 7,300.00 2,200.00 -2,165.00 -500.00 -425.75 4,145.00 106,900.00 -4,145.00 -60.00 16,500.00 -1,132.00 -775.00 -980.00 - 150.00 98.00 Balance 2,000.00 1,965.00 -1,535.00 16,465.00 14,165.00 21,465.00 23,665.00 21,500.00 21,000.00 20,574.25 24,719.25 131,619.25 127,474.25 127,414.25 143,914.25 142.782.25 142,007.25 141,027.25 140,877.25 140,975.25 140,975.25 Examine the deposit on January 23rd. ** You are confident that there are no other errors on the bank statement Randle Company General Ledger Cash Account 10-100 Description Debit Date Beg Bal Credit Balance $ 2,000.00 1/1/2020 Check 101 35.00 1/4/2020 $ 18,000.00 1/4/2020 Deposit Inventory: Acct 15-100 Check 102 $ 6,600.75 1/4/2020 $ 3,500.00 1/8/2020 Check 103 $ 2,300.00 1/10/2020 Check 104 $ 825.00 $ 2,200.00 $ 35,000.00 1/13/2020 1/14/2020 1/17/2020 1/19/2020 $ 2,165.00 Transfer From Savings Deposit Check 105 Check 106 Check 107 Check Deposit: Customer Check #6977 $ 505.00 $ 425.75 1/20/2020 1/21/2020 $ 4,145.00 1/22/2020 Check 108 $ 1.156.00 1/29/2020 Check 109 $ 775.00 $ 980.00 $ 2,400.00 1/29/2020 Check 110 1/30/2020 Check 111 1/30/2020 Deposit Ending Balance $ 18,321.00 $ 77,666.00 $ 21,667.50 57,998.50 1) On January 4, the accountant debited the cash account for a bill received from an inventory credit purchase. The Inventory account is 15-100. The bill will actually be paid in February. The accountant credited the Cash account. in the following transaction: Debit Inventory $6,600.75; Credit Cash $6,600.75 Bank Reconciliation January 2020 Randle Company Completed By: Date: Balance Per Bank, January 31, 2020 Balance Per Books, January 31, 2020 Add: Add: Subtract: Subtract: Adjusted Cash Balance Adjusted Cash Balance