One of your cousins owns Parcher Supplies Ltd. (PSL). She has asked for your help in preparing PSL’s bank reconciliation for the month of October and gathered the following information:
• PSL’s bank statement indicated that the company’s account balance was $9,567 on October 1, 2024, and $8,859 at October 31, 2024.

• The cash balance per the company’s records was $9,671 at October 31.
• At October 31, PSL had cheques with a value of $4,115 that the company had written and mailed out but that had not yet cleared the company’s bank account.
• A cheque for $1,620 from one of PSL’s customers was returned with the bank statement as “NSF.” The cheque had been deposited during the last week of October.
• During the month, an automatic payment of $275 was withdrawn from PSL’s account to pay for insurance coverage. Your cousin had forgotten about this automatic payment until she received the bank statement.
• Cheque #2116, which was a payment for advertising expenses, had been correctly written for $975 but had been incorrectly recorded in the general ledger as $795.
• The cash receipts for October 31 had been deposited in the night drop slot at the bank that night. These amounted to $2,820 and were not reflected on the bank statement for October.
• The bank service charges were $32 for the month.

Required 

a. Prepare the bank reconciliation for PSL at October 31. 

b. What amount of cash should PSL report on its statement of financial position at October 31, 2024? 

c. Prepare the journal entries necessary as a result of the bank reconciliation prepared in part (a).