The Fitzgerald Company maintains a checking account at the Bank of the North. The bank provides a bank statement along with canceled checks on the last day of each month. The October 31, 2016, bank statement included the following information Balance, October 1, 2016 Deposits Checks processed Service charges NSF checks Monthly loan payment deducted $ 32,670 85,000 (74,200) (330) (1,580) directly by bank from account (includes $380 in interest) (3,180) Balance, October 31, 2016 $ 38,380 The company's general ledger cash (checking) account had a balance of $42,506 at the end of October Deposits outstanding totaled $4,204, and all checks written by the company were processed by the bank except for those totaling $5,600. In addition, a check for $480 for the purchase of office furniture was incorrectly recorded by the company as a $48 disbursement. The bank correctly processed the check during October