Use the following to answer questions 21 - 25TIM Company's cash ledger reports the following for the month ending October 31, 20XE.DepositsChecks DateAmountNo.DateAmount3-Oct$17,500 11514-Oct$12,000 10-Oct33,250 11526-Oct8,500 17-Oct39,500 115315-Oct42,900 24-Oct22,400 115416-Oct9,800 Cash receipts 10/26 -10/3129,500 115520-Oct17,700 $142,150 115622-Oct14,900 115729-Oct27,250 Balance on October 1$23,800 $133,050 Receipts142,150 Disbursements133,050 Balance on October 31$32,900 Information from October's bank statement and company records reveals the following additional information:a)The ending cash balance shown on the bank statement is $46,798.b)Cash receipts of $29,500 from 10/2610/31 are outstanding.c)Checks 1156 and 1157 are outstanding.d)The deposit on 10/24 includes a customer's check for $400 that did not clear the bank (NSF check).e)Check 1154 was actually written for $9,080 for equipment purchased in October. The bank properly recorded the check for this amount.f)An automatic withdrawal for October rent was made on October 4 for $2,400.g)The companys checking account earns interest based on the average daily balance. The amount of interest earned for October is $5.h)Last year, one of the companys customers requested their A/R be converted to a Note Receivable (they owed $3,200 to the company). On October 29th, the customer paid $3,350 ($3,200 note amount plus $150 interest) directly to the bank in payment for the amount they owed the company.i)The bank charged the following service fees: $25 for NSF check, $1 for automatic withdrawal for rent payment, and $1 for collection of the loan amount from the customer.Prepare a bank reconciliation for October 31, 20XE to assist answering the questions following:

21. $___________Of the total checks written during the month, what amount should be deducted from the bank balance during reconciling the bank account?

22. $___________Of the cash receipts, what amount should be added to the bank balance during reconciling the bank account?23. When performing the bank reconciliation, how should the company treat check 1154? (add $720 to the company cash account, subtract $720 from company cash account, add $720 to bank statement balance, subtract $720 from bank statement balance)

24. $___________The total amount of subtractions from the company cash account during the reconciliation (DO NOT INCLUDE THE ADDITIONS; also do not make the answer negative):

25. $___________What is the companys cash balance after the reconciliation?

Use the following to answer questions 21 - 25 TIM Company's cash ledger reports the following for the month ending October 31, 20XE. Deposits Date No. 1151 3-Oct Amount $17,500 33,250 39,500 10-Oct 1152 Checks Date Amount 4-Oct $12,000 6-Oct 8,500 15-Oct 42,900 16-Oct 9,800 20-Oct 17,700 22-Oct 14,900 1153 17-Oct 24-Oct Cash receipts 10/26 -10/31 22,400 1154 29,500 1155 $142,150 1156 1157 29-Oct 27,250 Balance on October 1 $23,800 $133,050 Receipts Disbursements Balance on October 31 142,150 133,050 $32,900 Information from October's bank statement and company records reveals the following additional information: a) The ending cash balance shown on the bank statement is $46,798. b) Cash receipts of $29,500 from 10/26-10/31 are outstanding. c) Checks 1156 and 1157 are outstanding. d) The deposit on 10/24 includes a customer's check for $400 that did not clear the bank (NSF check). e) Check 1154 was actually written for $9,080 for equipment purchased in October. The bank properly recorded the check for this amount. f) An automatic withdrawal for October rent was made on October 4 for $2,400. g) The company's checking account earns interest based on the average daily balance. The amount of interest earned for October is $5. h) Last year, one of the company's customers requested their A/R be converted to a Note Receivable (they owed $3,200 to the company). On October 29th, the customer paid $3,350 ($3,200 note amount plus $150 interest) directly to the bank in payment for the amount they owed the company. i) The bank charged the following service fees: $25 for NSF check, $1 for automatic withdrawal for rent payment, and $1 for collection of the loan amount from the customer. Prepare a bank reconciliation for October 31, 20XE to assist answering the questions following