Learning o required entries from the bank reconciliation. P7-34B Preparing a bank reconciliation and journal entries The October 31 bank statement of Wyndham's Healthcare has just arrived from State Bank. To prepare the bank reconciliation, you gather the following data: a. The October 31 bank balance is $6,290. b. The bank statement includes two charges for NSF checks from customers. One is for $370 (#1), and the other is for $180 (#2). 1. Book Dede Lol of $355. The accounts affected by petty cash payments are Office Supplies, Travel On September 30, prior to replenishment, the fund contains these tickets plus cash Expense, Delivery Expense, Entertainment Expense, and Merchandise Inventory. Requirements 1. Explain the characteristics and the internal control features of an imprest fund. 2. On September 30, how much cash should the petty cash fund hold before it i replenished? 3. Journalize all required entries to create the fund and replenish it. Include explanations. 4. Make the October 1 entry to increase the fund balance to $800. Include an expla- nation and briefly describe what the custodian does. P7-34B Requirement 1 WYNDHAM'S HEALTHCARE Bank Reconciliation October 31, 2018 BOOK $6,290 Balance, October 31 BANK Balance, October 31 $3,200 ADD: ADD: 1. Deposit in transit Requirement 2 Accounts and Explanation Date Oct. 31 Debit Credit 31 31 31 31