The choices for the Balance Sheet are:

- Increase

- Decrease

- Increase and Decrease

- No Effect

The following is a detailed bank reconciliation for Marin Limited for October. Marin Ltd. Bank Reconciliation October 31 $5,964 Cash balance per bank statement Add: Bank error Deposits in transit $650 1,511 2,161 8,125 554 $7,571 Less: Outstanding cheques Adjusted cash balance per bank Cash balance per books Add: Collection of note receivable $5,979 2,600 8,579 $27 930 Less: Correction of cheque #1581 error for Payment on account ($685 - $658) NSF cheque Tyler Moore Bank Service charge Correction in May 12 deposit of cash sales ($828 - $818) Adjusted cash balance per books 41 10 1,008 $7,571 Provide the effect (Increase, Decrease, or No Effect) the journal entries for the reconciling items will have of the financial statement items listed below: Item 1 Item 2 Item 3 Item 4 Item 5 Collection of note receivable Payment on account NSF cheque Tyler Moore Bank service charge Correction in May 12 deposit of cash sales ($828 - $818) 2,600 27 930 41 10 Balance Sheet Liabilities Income Statement Expenses Item Assets Owner's Equity Revenue Profit 1 V 2 3 4