A Problem 7-7A Preparing a bank reconciliation and recording adjustments LO6 CHECK FIGURE: 1. Adjusted book balance = $31,984 The following information was available to reconcile Montrose Company's book balance of Cash with its bank statement balance as of October 31, 2023: a. After all posting was completed on October 31, the company's Cash account had a $13,219 debit balance but its bank statement showed a $29,355 balance. b. Cheques # 296 for $1,334 and #307 for $12,754 were outstanding on the September 30 bank reconciliation Cheque #307 was returned with the October cancelled cheques, but cheque # 296 was not. It was also found that cheque #315 for $893 and cheque #321 for $2,000, both written in October, were not among the cancelled cheques returned with the statement. c. In comparing the cancelled cheques returned by the bank with the entries in the accounting records, it was found that cheque #320 for the October rent was correctly written for $4.090 but was erroneously entered in the accounting records as $4,900. d. A credit memo enclosed with the bank statement indicated that there was an electronic fund transfer related to a customer payment for $21,400. A $120 bank service charge was deducted. This transaction was not recorded by Montrose before receiving the bank statement. e. A debit memo for $3,251 listed a $3,202 NSF cheque plus a $49 NSF charge. The cheque had been received from a customer, Jefferson Tyler Montrose had not recorded this bounced cheque before receiving the statement. f. Also enclosed with the statement was a $74 debit memo for bank services. It had not been recorded because no previous notification had been received. g. The October 31 cash receipts, $6,856, were placed in the bank's night depository after banking hours on that date and this amount did not appear on the bank statement. Required 1. Prepare a bank reconciliation for the company as of October 31, 2023. 2. Prepare the general journal entries necessary to bring the company's book balance of Cash into agreement with the reconciled balance

Problew 7.7A Preparing a bank reconcibation and recording adjustments 1 S LOG CHECK FIGURE: 1 Adjusted book balance =$31,984 The followine information was available to reconcale Moetiose Companys book bolance of Cash wath its bank statement balance as of October 31,2023 a. Aner all posties was completed on October 31, the compain/ 1 Caht account had a \$13.219 debat balance but its bank statement thewtd a $29355 bulance. with the Ortober canceled checark. but chegae $296 was not. ft was atoo found that chreque $315 for $593 and ebeque $321 for 52,000, both wnitten in October, were not anone the cancelled cheues retsrned with the statemeat. c. In comparine the cancelled cheques retursed ty the bunk with the entries in the acceuntiag iecords, it was found that cheque o320 for 4. A eredit memo enciosed whth the bank itatemeat indicated that there was ae electronic fund transfer related to a cestomer papue nt for 521.460 A 5120 bank seivice charge was deducted. This transaction was not recolded by Montrole before inceivag the bank statement - A debir asemo for $3.251 buted a 53.202 NSF cheeve plus a 549 NSF charpe. The cheque had been received from a cuutoner. Jefterson Diter Montrose had aot iecerded this bounced checue before recewat the vatement had been received. not appear on the bank atatemient. Required 1. Prepare a bask ieconciliation for the company as of October 31.2023 2. Piepare the peneral journal entries necesaary to brine the conpany's book balance of Cash isto abeenaens with the reconciled balance