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Question: California Company has one bank account. The balance in the accounting records of California Company of the bank account at year end, Dec. 31, 2022, is $11,000. The balance per the bank statement on December 31 is $13,500. The following transactions have not been recognized/recorded by one of the two parties (bank or California): Bank charges, $100; N.S.F. (not enough cash in the customer's bank account) cheque rejected by bank, $400; Outstanding cheques, $600; Outstanding deposits (not yet received by bank), $1,600. A bank transfer from a customer to the company's bank account was made, $4,000. The company has yet to account for this cash receipt since they were not aware of the receipt.
Required:
1. Prepare a bank reconciliation in good form for December 31, 2022.
2. Prepare the adjusting entry to bring the company's general ledger bank account balance to the correct amount.
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