A company's cash account balance at October 31, 2016is $544, 400.The bank statement balance on the same date is $ 584, 000.The bank statement also shows that the bank: Collected a $ 10, ooo note receivable and related interest of $500 for the company during October. Reduced the balance by $2, 750 for 3 nonsufficient funds check from the company's customers that the company deposited with the bank in October. Deducted service charges of $150 during October. Deposits in Transit at October 31 were $53, 500; outstanding checks n that date were $86, 400.Deposits in transit at September 30 were $35, 000; outstanding checks at September 30 were $68, 400. The company discovered that check #2020 written to pay for the purchase of equipment with cash was written for $3, 250 was recorded by the company's bookkeeper as $2, 350. Prepared a bank reconciliation for the company as of October 31, 2016.Labelall amounts used. Prepare any appropriate journal entries based on the bank reconciliation