b) Lily provides you with its October bank reconciliation and asks you to prepare any journal entries that it should prepare.

b) Lily provides you with its October bank reconciliation and asks you to prepare any journal entries that it should prepare. \begin{tabular}{|l|} \hline Lilac Inc. \\ Bank Reconciliation \\ October 31,2023 \\ \hline Balance per company \\ \hline Error in cheque #401 \end{tabular} \begin{tabular}{|c|c|} \hline Amount per company & $530 \\ \hline Amount per bank & $350 \\ \hline \begin{tabular}{l} Company subtracted too much \\ for payments owing on account \end{tabular} & \\ \hline to suppliers & $180 \\ \hline \end{tabular} Less: NSF cheque Less: Bank service charges Reconciled balance October 31 \begin{tabular}{r} ($25) \\ \hline$1,900 \\ \hline \hline \end{tabular} Balance per bank $1,100 ($1,200) b) Lily provides you with its October bank reconciliation and asks you to prepare any journal entries that it should prepare. \begin{tabular}{|l|} \hline Lilac Inc. \\ Bank Reconciliation \\ October 31,2023 \\ \hline Balance per company \\ \hline Error in cheque #401 \end{tabular} \begin{tabular}{|c|c|} \hline Amount per company & $530 \\ \hline Amount per bank & $350 \\ \hline \begin{tabular}{l} Company subtracted too much \\ for payments owing on account \end{tabular} & \\ \hline to suppliers & $180 \\ \hline \end{tabular} Less: NSF cheque Less: Bank service charges Reconciled balance October 31 \begin{tabular}{r} ($25) \\ \hline$1,900 \\ \hline \hline \end{tabular} Balance per bank $1,100 ($1,200)