Part $2$:

Note: You must complete part $1$ before completing part $2.$

Based on the following data, prepare a bank reconciliation for December of the current year:

Balance according to the bank statement at December $31,$ $$283,000.$

Balance according to the ledger at December $31,$ $$245,410.$

Checks outstanding at December $31,$ $$68,540.$

Deposit in transit, not recorded by bank, $$29,500.$

Bank debit memo for service charges, $$750.$

A check for $$12,700$ in payment of an invoice was incorrectly recorded in the accounts as $$12,000.$

Kornett Company

Bank Reconcillation

December $31,20Y5$

Adjusted balance

$$

$$

$

$$

$$

$$

$$

Total deductions

Adjusted balance $q,$