roblems (Group A) P4-1A. Preparing a bank reconciliation (Learning Objective 1) 20-25 min. The September cash records of Povich Industrial Inc. follow: Povich Industrial Inc.'s Cash account shows a balance of $5,941 on September 30. On September 30, Povich Industrial Inc. received the following bank statement: Additional data for the bank reconciliation: a. The EFT deposit was a receipt of rent revenue. The EFT debit was payment of insurance expense. b. The NSF cheque was received from a customer. c. The $1,300 bank collection was for a note receivable. d. The correct amount of cheque 1419 is $431. Povich Industrial Inc. mistakenly recorded the cheque for $341