On October 31, 2024, Crane Manufacturing Ltd. (CML) received its bank statement from Big Bank. It stated that CML had a balance of $8,000 at October 31. The company's general ledger showed a cash balance of $8,580 at that date. A comparison of the bank statement and the accounting records revealed the following information: - Bank service charges for the month were $50. - The company had written and mailed out cheques with a value of $1,400 that had not yet cleared the bank. - A cheque from one of CML's customers in the amount of $800 that had been deposited during the last week of October was returned with the bank statement as NSF. - A payment of $250 for monthly insurance expense was automatically deducted from CML's bank account on October 22. CML's bookkeeper had forgotten to record this transaction. - During the month, the company's bookkeeper had recorded a cheque (\#1872) paid for utilities as $575 rather than $755 (which was the amount written on the cheque and processed by the bank). - The cash receipts for October 31 amounted to $700 and had been deposited in the night drop slot at the bank on the evening of October 31. These were not reflected on the bank statement for October. rank and books first.)