P8-4B The bank portion of the bank reconciliation for Phillips Company at October 31, 2017, was as follows. PHILLIPS COMPANY Bank Reconciliation October 31, 2017 Cash balance per bank Add: Deposits in transit $6,000 842 6,842 Less: Outstanding checks Check Number 2451 2470 2471 2472 2474 Check Amount $700 396 464 270 578 2,408 $4,434 Adjusted cash balance per bank The adjusted cash balance per bank agreed with the cash balance per books at October 31 The November bank statement showed the following checks and deposits