a. Checks outstanding totaled $4,610. b. A deposit of $4,800, representing receipts from October 31, had been made too late to appear on the bank statement. c. The bank had collected $2,500 on a note left for collection. The face of the note was $2,370. d. A check for $550 returned with the statement had been incorrectly recorded by Deaver Consulting as $500. The check was for the payment of an obligation to Oxford Office Supplies Co. for the purchase of office supplies on account. e. A check drawn for $590 had been incorrectly charged by the bank as $90. f. Bank service charges for October amounted to $20. Instructions: 1. Prepare a bank reconciliation. Deaver Consulting Bank Reconciliation October 31, 20Y6 Cash balance according to bank statement Add: Deposit of October 31, not recorded by bank 12,800 4,800 17,600 Deduct: Outstanding checks 4,610 Deduct: Bank error in charging check as $90 instead of $590 500 5,110 Adjusted balance 12,490 Cash balance according to Deaver Consulting Add: Proceeds of note collected by bank, including $130 interest 10,060 2,500 12.560 Deduct: Error in recording check by the company as $500 instead of $550 Deduct: Bank service charges 50 20 70 12,490 Adjusted balance