ID You have recently started an internship in BankRec, Inc., a financial services company. Your supervisor provided you with the following information and asked you to prepare a bank reconciliation for Bank Recine. as at October 31, 2021 Cash balance per books, October 31 Outstanding cheques, October 31 Deposit in transit October 31 October bank service charges Balance per bank statement $7.000 8-10 623 10 6.885 Other information . The bank service charges for October have not been recorded by Ban Rec. . A customer's cheque for $500 was returned by the bank NSF Not Suficient Funds) BankRec. intends to recover the funds from the customer A cheque to a supplier for payment on account was erroneously entered as $762 on BankRec's records, but was correctly written as $572 on the cheque itself and cashed as $572 by the bank REQUIRED: 1. Prepare a bank reconciliation for BankRec Inc. as at October 31 2021. (5 marks) 2. Prepare the journal entry or entries needed to adjust BankRec's accounts at October 31 (3 marks) 3. A bank reconciliation is an important element of a system of internal control. Briefly describe two other internal control policies related lo cash (2 marks) 1 A B vered this question and we upload after the exam (type yes)