Bank Reconciliation and Entries The cash account for Coastal Bike Co. at October 1, 2099, indicated a balance of $14,770. During October, the total cash deposited was $73,970 and checks written totaled $68,680. The bank statement indicated a balance of $25,080 on October 31, 2049. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: a. Checks outstanding totaled $11,170. b. A deposit of $9,100, representing receipts of October 31 had been made too late to appear on the bank statement. C. The bank had collected for Coastal Bike Co. $4,810 on a note left for collection. The face of the note was $4,440. d. A check for $270 returned with the statement had been incorrectly charged by the bank as $720. e. A check for $520 returned with the statement had been recorded by Coastal Bike Co. as $250. The check was for the payment of an obligation to Rack Pro Co. on account. f. Bank service charges for October amounted to $30. g. A check for $1,110 from Bay View Condos was returned by the bank due to insufficient funds. Instructions: 1. Prepare a bank reconciliation as of October 31, 2049. Coastal Bike Co. Bank Reconciliation October 31, 2019 25,080 Cash balance according to bank statement Adjustments: Deposit of October 31, not recorded by bank 9,100 Bank error in charging check as $720 instead of $270 450 Outstanding checks 8,380 Total adjustments Adjusted balance Cash balance according to company's records Adjustments: Proceeds of note collected by bank, including $370 interest Check returned because of insufficient funds Bank service charges Error in recording check Total adjustments Adjusted balance Feedback 2. Journalize the necessary entries (a.) that increase cash and (b.) that decrease cash. The accounts have not been closed. For a compound transaction, if an amount box does not require an entry, leave it blank. a. 2079 Oct. 31 Cash Notes Receivable 11 Interest Revenue b. Oct. 31 Accounts Payable-Rack Pro Co. Accounts Receivable-Bay View Condos Miscellaneous Expense Cash Feedback Check My Work 3. If a balance sheet were prepared for Coastal Bike Co. on October 31, 2019, what amount should be reported as cash