Required information Problem 4-2B Prepare the bank reconciliation and record cash adjustments (L04-5) (The following information applies to the questions displayed below.) On October 31, 2021, the bank statement for the checking account of Blockwood Video shows a balance of $12,751, while the company's records show a balance of $12,381. Information that might be useful in preparing a bank reconciliation is as follows: a. Outstanding checks are $1,280. b. The October 31 cash receipts of $835 are not deposited in the bank until November 2. c. One check written in payment of utilities for $147 is correctly recorded by the bank but is recorded by Blockwood as a disbursement of $174. d. In accordance with prior authorization, the bank withdraws $560 directly from the checking account as payment on a note payable. The interest portion of that payment is $60 and the principal portion is $500. Blockwood has not recorded the direct withdrawal. e. Bank service fees of $34 are listed on the bank statement. f. A deposit of $577 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. g. The bank statement includes a charge of $85 for an NSF check. The check is returned with the bank statement, and the company will seek payment from the customer. Problem 4-2B Part 1 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.) Bank's Cash Balance Per bank statement $ Deposits outstanding Checks outstanding Bank error BLOCKWOOD VIDEO Bank Reconciliation October 31, 2021 Company's Cash Balance 12,751 Per general ledger $ 835 Company error 1,280 NSF check 577 Checks outstanding Service fees 12,381 27 (85) (560) (34) Bank balance per reconciliation $ 11,729 Company balance per reconciliation $ 11,7291