Assignment 7 Saved Help Save & Ch 2 The following information was available to reconcile Montrose Company's book balance of Cash with its bank statement balance as of October 31, 2017: 50 points Skipped eBook Print a. After all posting was completed on October 31, the company's Cash account had a $15,476 debit balance, but its bank statement showed a $34,370 balance. b. Cheques #296 for $1,564 and #307 for $14,951 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 $1,047 and cheque #321 for $2.346, 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 $5,070 but was erroneously entered in the accounting records as $5.700. d. Acredit memo enclosed with the bank statement indicated that there was an electronic fund transfer related to a customer payment for $22,200. A $140 bank service charge was deducted. This transaction was not recorded by Montrose before receiving the bank statement. e. A debit. memo for $3.792 listed a $3,734 NSF cheque plus a $58 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 $87 debit memo for bank services. It had not been recorded because no previous notification had been received. g. The October 31 cash receipts, $4,874, were placed in the bank's night depository after banking hours on that date and this amount did not appear on the bank statement. References 2 g. The October 31 cash receipts, $4,874, 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, 2017 s MONTROSE COMPANY tipped Bank Reconciliation October 31, 2017 Bank Statement Company's Books Book Bank statement balance Book balance of cash Print Add: Add: erences $ 0 Deduct: Deduct: 1 2 3 4 Record the collection of note less collection fee. Next View transaction list nts Skipped Journal entry worksheet eBook Record the NSF cheque. eferences Note: Enter debits before credits. Date General Journal Debit Credit Oct 31