The Mary Poppins Company maintains a checking account at the Fidelity Fiduciary Bank. The bank provides a bank statement along with canceled checks on the last day of each month. The October 31, 2021, bank statement included the following Information: Balance, October 1, 2021 $ 32,690 Deposits Checks processed Service charges NSF checks Monthly loan payment deducted directly by bank from account (includes $400 in interest) 86,000 (75,200) (350) (1.600) (3,400) Balance, October 31, 2021 $ 38,140 The company's general ledger cash (checking) account had a balance of $42,544 at the end of October. Deposits outstanding totaled $4,224, and all checks written by the company were processed by the bank except for those totaling $5,620. In addition, a check for $500 for the purchase of office furniture was incorrectly recorded by the company as a $50 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