Using Excel to Account For Bank Reconciliation Errors

PROBLEM

The following errors were found when the controller at Mitra Hotel was doing

the October $31$ bank reconciliation.

On October $3,$ Mitra recorded a payment of an account payable at a

different amount than the correct amount recorded by the bank.

Recorded by Mitra

Correct amount recorded by bank

$$360$

$630$

On October $16,$ Mitra recorded a deposit for the collection of an

account receivable at a different amount than the correct amount

recorded by the bank.

Recorded by Mitra

$ $2,750$

Correct amount recorded by bank

$7,250$

On October $31,$ Mitra correctly recorded a deposit for the collection of

an account receivable at a different amount than which was recorded

by the bank. This error was corrected by the bank on November $1.$

Correct amount recorded by Mitra

$ $1,350$

Recorded by bank on October $31$

Student Work Area

Required: Provide input into cells shaded in yellow in this template. Input the required mathematical

formulas or functions with cell references to the Problem area or work area as indicated.

a$.$ For each of these errors, indicate if and how it would be shown on the bank reconciliation,

Payment of account payable

Decrease to book cash balance

Collection of account receivable

Increase to book cash balance

Collection of account receivable

b$.$ For each of these errors, prepare the journal entry for Mitra if required.

Oct. $31$

Accounts Payable

Oct. $31$

Oct. $31$