answer in text form please (without image) On October 31, 2024, Affleck Company's general ledger shows a cash account balance of $8,424. The company's cash receiptfor the month total $74,500, of which $71,340 has been deposited in the bank. In addition, the company has written checks for$72,494, of which $71,144 has been processed by the bank.The bank statement reveals an ending balance of $12,384 and includes the following items not yet recorded by Affleck: bankservice fees of $240, note receivable collected by the bank of $5,900, and interest earned on the note of $770. After closerinspection, Affleck realizes that the bank incorrectly charged the company's account $660 for an automatic withdrawal thatshould have been charged to another customer's account. The bank agrees to the error.Required:1. Prepare a bank reconciliation to calculate the correct ending balance of cash on October 31, 2024.2. Record the necessary entries to adjust the balance for cash.Complete this question by entering your answers in the tabs below.Required 1Complete this question by entering your answers in the tabs below.Required 1 Required 2Required 2Prepare a bank reconciliation for the Cousins checking account on October 31, 2024. (Amounts to be deducted should beindicated with a minus sign.).Per bank statementBank's Cash BalanceDeposits outstandingBank errorChecks outstandingBank balance per reconciliation<Journal entry worksheet1<Note: Enter debits before credits.Transaction.1Record the amounts that increase cash.CashRecord entry22Transaction2$Journal entry worksheetNote: Enter debits before credits.Record entryCOUSINS VIDEOBank ReconciliationOctober 31, 202412,976 Per general ledger805 Company errorEFT for noteNSF check(571)(1,250)General JournalRecord the amounts that decrease cash.Clear entryGeneral JournalCompany's Cash BalanceClear entryCompany balance per reconciliation.DebitDebitCreditView general journalCredit>View general journal$ 12.351

The bank reconciliation statement is prepared to equate the balances of the cash book and pass book…

On October 31, 2024, Affleck Company's general ledger shows a cash account balance of $8,424. The company's cash recel for the month total $74,500, of which $71,340 has been deposited in the bank. In addition, the company has written checks f $72,494, of which $71,144 has been processed by the bank. The bank statement reveals an ending balance of $12,384 and includes the following items not yet recorded by Affleck: bank service fees of $240, note receivable collected by the bank of $5,900, and interest earned on the note of $770. After closer inspection, Affleck realizes that the bank incorrectly charged the company's account $660 for an automatic withdrawal that should have been charged to another customer's account. The bank agrees to the error. Required: 1. Prepare a bank reconciliation to calculate the correct ending balance of cash on October 31, 2024. 2. Record the necessary entries to adjust the balance for cash.