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Bank Reconciliation and Entries The cash account for Coastal Bike Co. at October 1, 2099, indicated a balance of $13,580. During October, the total cash

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Bank Reconciliation and Entries The cash account for Coastal Bike Co. at October 1, 2099, indicated a balance of $13,580. During October, the total cash deposited was $67,990 and checks written totaled $63,130. The bank statement indicated a balance of $23,050 on October 31, 2019. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: a. Checks outstanding totaled $10,270. b. A deposit of $8,360, 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. $4,420 on a note left for collection. The face of the note was $4,080. d. A check for $490 returned with the statement had been incorrectly charged by the bank as $940. e. A check for $970 returned with the statement had been recorded by Coastal Bike Co. as $790. The check was for the payment of an obligation to Rack Pro Co. on account. f. Bank service charges for October amounted to $70. g. A check for $1,020 from Bay View Condos was returned by the bank due to insufficient funds. Instructions: 1. Prepare a bank reconciliation as of October 31, 2019. Coastal Bike Co. Bank Reconciliation October 31, 2049 Cash balance according to bank statement Adjustments: Total adjustments Adjusted balance Cash balance according to company's records Adjustments: Adjustments: Total adjustments Adjusted balance 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 b. Oct. 31 3. If a balance sheet were prepared for Coastal Bike Co. on October 31, 2019, what amount should be reported as cash

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