P8.5 At December 31, the cash balance per books was $13,985.20, and the cash balance per the bank state-ment was $19,239.10. The bank did not make any errors, but Langer Company made two errors.8-44 CHAPTER 8 Fraud, Internal Control, and Casha. Adjusted balance per books$16,043.20Instructionsa. Using the steps in the reconciliation procedure described in the chapter, prepare a bank reconcilia-tion at December 31, 2020.b. Prepare the adjusting entries based on the reconciliation. (Hint: The correction of any errors per-taining to recording checks should be made to Accounts Payable. The correction of any errors relat-ing to recording cash receipts should be made to Accounts Receivable.) P8.5A (LO 3) The bank portion of the bank reconciliation for Langer Company at November 30, 2020,was as follows.Cash balance per bankAdd: Deposits in transitDate12-112-212-212-4Less: Outstanding checksCheck Number12-812-1034513470347134723474Adjusted cash balance per bankDate12-112-212-712-412-812-1012-1512-2712-3012-2912-31Number34753476347734783479348012-17 3481Langer CompanyBank ReconciliationNovember 30, 2020The adjusted cash balance per bank agreed with the cash balance per books at November 30.The December bank statement showed the following checks and deposits.Bank StatementChecksNumber34513471347234753476347734793480348234833485TotalCheck Amount$2,260.40720.10844.501,426.801,050.00The cash records per books for December showed the following.Amount$ 2,260.40844.501,426.801,640.70600.00 Total807.401,300.002,130.003,080.00600.00475.501,140.00540.80$15,438.702,130.00 12-233484621.30 12-24 34853,080.00 12-30 3486Date12-112-412-812-1612-2112-2612-2912-30TotalCash Payments JournalAmount Date Number Amount$1,640.70 12-20 3482 $ 475.501,300.00 12-2234831,140.00$14,367.902,530.2016,898.10798.00450.80889.50$13,933.206,301.80$10,596.30DepositsAmount$ 2,530.201,211.602,365.102,672.702,945.002.567.302,836.001,025.00$18,152.90Cash ReceiptsJournalDate12-312-712-1512-2012-2512-2812-3012-31TotalAmount$ 1,211.602,365.102,672.702,954.002,567.302,836.001,025.001,690.40$17,322.10The bank statement contained two memoranda:1. A credit of $2,242 for the collection of Langer Company of an electronic funds transfer.2. A debit for the printing of additional company checks $85.At December 31, the cash balance per books was $13,985.20, and the cash balance per the bank state-Prepare a bank reconciliation andadjusting entries from detailed data.

A journal entry is a form of accounting entry that is used to report a business transaction in a…

At December 31, the cash balance per books was $13,985.20, and the cash balance per the bank state- ment was $19,239.10. The bank did not make any errors, but Langer Company made two errors. 8-44 CHAPTER 8 Fraud, Internal Control, and Cash a. Adjusted balance per books $16,043.20 Instructions a. Using the steps in the reconciliation procedure described in the chapter, prepare a bank reconcilia- tion at December 31, 2020. b. Prepare the adjusting entries based on the reconciliation. (Hint: The correction of any errors per- taining to recording checks should be made to Accounts Payable. The correction of any errors relat- ing to recording cash receipts should be made to Accounts Receivable.)