On October 31, 2018, Damon Company's general ledger shows a checking account balance of $8,427. The company's cash receipts for the month total S74,520, of which $71,345 has been deposited in the bank. In addition, the company has written checks for $72,497, of which 62 has been processed by the bank. The bank statement reveals an ending balance of S12,457 and includes the following items not yet recorded by Damon: bank service fees of $250, note receivable collected by bank of $6,000, and interest earned on the account balance plus from the note of S820. After closer inspection, Damon realizes that the bank incorrectly charged the company's account $700 for an automatic withdrawal that should have been charged to another customer's account. The bank agrees to the errol Required: 1. Prepare a bank reconciliation to calculate the correct ending balance of cash on October 31, 2018. (Amounts to be deducted should be indicated with a minus sign.) DAMON COMPANY Bank Reconciliation October 31, 2018 Bank's Cash Balance Company's Cash Balance Per bank statement Per general ledger Bank balance per reconciliation Company balance per reconciliation