Revise your worksheet to reflect the following transactions and updated values at the end of the accounting period, then answer the questions that follow. (Note: You do not need to upload your revised worksheet for Part 2.) 1 Cash on hand at the company and not yet deposited at the bank. 2 EFT for monthly utility bill not yet recorded by the company. 3 Note collected by the bank and not yet recorded by the company. 4 Interest collected by the bank from note in #3 not yet recorded by the company. 5 A check witten for insurance expense for $70 was cashed. The check was recorded on the books for $130. 6 Checks written by the company but not yet processed by the bank. 7 Service fee charged by bank but not yet recorded by the company. 8 Customer checks determined by the bank to have nonsufficient funds. 7,500 1,500 8,900 1,300 ? 3,300 100 2,900 Bank balance at the end of the period. Company balance at the end of the period. 18,600 17,040 Required: 1-a. What is the revised Cash balance at the end of the period? Cash 1-b. Is the bank reconciliation in balance? Yes No 2-a. What is the balance in Cash if the entry to correct the insurance payment hasn't been made? Cash 2-b. Would the bank reconciliation still be in balance? Yes No 3. Which statement below is true regarding the effect of the company incorrectly recording a customer deposit at $110,000 rather than $11,000? No effect on the bank reconciliation. The difference of $99,000 will be subtracted from the book balance. The difference of $99,000 will be added to the book balance. The bank balance will be increased by $110,000