a SOAL 3- Bank Reconciliation & Adjusting Entries Coral Reefs Ltd. had a cash account per its general ledger showing a balance of $78,659 on October 31, 2021. The bank statement from Ocean Paradise Bank on that date showed the following date showed the following balance. Ocean Paradise Bank Checks and Debits Deposits and Credits Daily Balance 10-31 $88,080 A comparison of the details on the bank statement with the detail in the cash account revealed the following facts. 1. A $13,070 note receivable was collected by the bank for Coral Reefs Ltd. on October 14 plus $713 interest and the bank had made a charge of $137 on the collection. No interest has been accrued on the note. 2. Check No. 175 in the amount of $5,741 had been entered in the cash journal as $5,471 and Check No. 189 in the amount of $2,040 had been entered in the cash journal as $2,400. Both checks had been issued to pay for purchases of supplies. 3. The bank had charged the Coral Reefs Ltd.'s account for a customer's uncollectible check amounting to $789 on October 23. 4. Deposit in transit was $7,388 and outstanding check no. 123 on October 28 totaled $5,309. 5. There was a cancelled check issued by Pearl Jewelry Co. to Coral Bells Ltd. for $2,079 that was incorrectly charged to Coral Reefs Ltd. by the bank. 6. Bank statement showed charges of $585 for the service charge of maintaining the checking account. 7. Outstanding check no. 122 was $1,127. 8. On October 27, the company issued check no. 432 for $5,342 to Nixie on account. The check, which cleared the bank in October, was incorrectly journalized and posted by Coral Reefs Ltd. for $5,432. This check had been issued to pay for purchases of equipment. Instructions: a. Prepare the bank reconciliation at October 31, 2021. b. Prepare the adjusting entries for Coral Reefs Ltd. at October 31, 2021