Identify each of the following reconciling items as: $($a$)$ an addition to the cash balance according to the bank statement, $($b$)$ a deduction from the cash balance according to the bank statement, $($c$)$ an addition to the cash balance according to the companys records, or $($d$)$ a deduction from the cash balance according to the companys records. $($None of the transactions reported by bank debit and credit memos have been recorded by the company.$)1.$ Bank service charges, $$50\mathrm{.}2.$ Check of a customer returned by bank to company because of insufficient funds, $$520\mathrm{.}3.$ Check for $$345$ incorrectly recorded by the company as $$435\mathrm{.}4.$ Check for $$200$ incorrectly charged by bank as $$2,000\mathrm{.}5.$ Deposit in transit, $$4,250\mathrm{.}6.$ Outstanding checks, $$5,420\mathrm{.}7.$ Note collected by bank, $$5,300.$Note: List $1$ through $7$ and place the corresponding letter from the options above.Instructions $($PQs$)$:FORMAT: Must submit using an Excel worksheet. Dollar signs, commas, single lines, and double lines must be used when required.