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eng Corporation received a bank statement showing a balance of $14,850 as of October 31, 2019. The firms records showed a book balance of $14,385

eng Corporation received a bank statement showing a balance of $14,850 as of October 31, 2019. The firms records showed a book balance of $14,385 on October 31. The difference between the two balances was caused by the following items. A debit memorandum for an NSF check from Richard Wolf for $427. Three outstanding checks: Check 7017 for $127, Check 7098 for $58, and Check 7107 for $1,590. A bank service charge of $23. A deposit in transit of $860. Prepare the adjusted bank balance section and the adjusted book balance section of the bank reconciliation statement. Prepare the necessary journal entries for the year 2019.

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