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, 2018, bank statement included the following information: Balance, October 1, 2018 Deposits Checks processed Service charges NSF checks Monthly loan payment deducted directly by bank from account (includes $360 in interest) Balance, October 31, 2018 $ 32,650 84,000 (73,200) (310) (1,560) (2.960) $ 38,620 The company's general ledger cash (checking) account had a balance of $42,468 at the end of October. Deposits outstanding totaled $4,184, and all checks written by the company were processed by the bank except for those totaling $5,580. In addition, a check for $460 for the purchase of office furniture was incorrectly recorded by the company as a $46 disbursement. The bank correctly processed the check during October Required: 1. Prepare a bank reconciliation for the month of October 2. Prepare the necessary journal entries at the end of October to adjust the general ledger cash account