On October 31, 2021, the bank statement for the checking account of Blockwood Video shows a balance of $12,976, while the companys records show a balance of $12,351. Information that might be useful in preparing a bank reconciliation is as follows:

1. Outstanding checks are $1,250.
2. The October 31 cash receipts of $805 are not deposited in the bank until November 2.
3. One check written in payment of utilities for $141 is correctly recorded by the bank but is recorded by Blockwood as a disbursement of $411.
4. In accordance with prior authorization, the bank withdraws $554 directly from the checking account as payment on a note payable. The interest portion of that payment is $54 and the principal portion is $500. Blockwood has not recorded the direct withdrawal.
5. Bank service fees of $28 are listed on the bank statement.
6. A deposit of $571 is recorded by the bank on October 13, but it did not belong to Blockwood. The deposit should have been made to the checking account of Hollybuster Video, a separate company.
7. The bank statement includes a charge of $79 for an NSF check. The check is returned with the bank statement, and the company will seek payment from the customer.

Required:

1. Prepare a bank reconciliation for the Blockwood checking account on October 31, 2021. (Amounts to be deducted should be indicated with a minus sign.)

(partly completed)

2. Record the necessary cash adjustments. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

(partly completed)

Bank's Cash Balance Per bank statement Deposits outstanding Checks outstanding Bank error BLOCKWOOD VIDEO Bank Reconciliation October 31, 2021 Company's Cash Balance Per general ledger 805 Company error (1,250) Interest on note (EFT) (571) Service fees NSF check Bank balance per reconciliation Company balance per reconciliation Journal entry worksheet