2. The cash account for Valley Bike Co. at October 1,2019 , indicated a balance of $5,140. During October, the total cash deposited was $39,175, and checks written totaled $40,520. The bank statement indicated a balance of $8,980 on October 31,2019 . Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: a. Outstanding checks made as payments to creditors totaled $5,560. b. A deposit of $1,050 representing receipts of October 31 had been made too late to appear on the bank statement. c. The bank had collected for Valley Bike Co. \$2,120 on a note left for collection. The face of the note was $2,000. d. A check for $370 returned with the statement had been incorrectly charged by the bank as $730. e. A check for $310 returned with the statement had been recorded by Valley Bike Co. as $130. The check was for the payment of an obligation to Sports Pro Co. on account. f. Bank service charges for October amounted to $25. g. A check for $880 from Overwatch Condos was returned by the bank due to insufficient funds. i. Prepare a bank reconciliation as of October 31, 2019. ii. Journalize the necessary entries. iii. If a balance sheet were prepared for Valley Bike Co. on October 31, 2019, what amount should be reported as cash