The cash account for Coastal Bike Co. at October 1, 2099, indicated a balance of $32,788. During October, the total cash deposited was $139,699, and checks written totaled $138,679. The bank statement indicated a balance of $42,830 on October 31, 2049. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: a. Checks outstanding totaled $6,659. b. A deposit of $1,875 representing receipts of October 31, had been made too late to appear on the bank statement. c. The bank had collected for Coastal Bike Co. $6,195 on a note left for collection. The face of the note was $5,900. d. A check for $170 returned with the statement had been incorrectly charged by the bank as $710. e. A check for $310 returned with the statement had been recorded by Coastal Bike Co. as $130. The check was for the payment of an obligation to Rack Pro Co. on account. f. Bank service charges for October amounted to $24. g. A check for $1,213 from Bay View Condos was returned by the bank due to insufficient funds. Instructions 1. Prepare a bank reconciliation as of October 31, 2049. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. "Add:" & "Deduct:" will automatically appear if it is required. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 2. Journalize the necessary entries. Refer to the Chart of Accounts for exact wording of account titles. 3. If a balance sheet were prepared for Coastal Bike Co. on October 31, 2019, what amount should be reported as cash? CHART OF ACCOUNTS Coastal Bike Co. General Ledger ASSETS REVENUE 110 Cash 410 Sales 111 Petty Cash 610 Interest Revenue 112 Accounts Receivable-Bay View Condos 131 Notes Receivable EXPENSES 141 Merchandise Inventory 510 Cost of Merchandise Sold 145 Office Supplies 515 Credit Card Expense 146 Store Supplies 516 Cash Short and Over 151 Prepaid Insurance 520 Salaries Expense 181 Land 531 Advertising Expense 191 Office Equipment 532 Delivery Expense 192 Accumulated Depreciation Office Equipment 533 Insurance Expense 193 Store Equipment 534 Office Supplies Expense Amount Descriptions Adjusted balance Bank error in charging check as $710 instead of $170 Bank service charges Check returned because of insufficient funds Deposit in transit on October 31 Error in recording check Note collected by bank, including $295 interest Outstanding checks Total additions Total deductions