statement along with canceled checks on the last day of each month. The October 31, 2018, bank statement included the following information: 7. The Pitzgerald Company maintains a checking account at the Bank of the North. The bank provides a a Balance, October 1, 2018 Deposits Checks processed Service charges NSF checks Monthly loan payment deducted directly by bank from account (includes $320 in interest) s 32,610 82,000 (71,200) (270) (1520) Balance, October 31, 2018 The company’s general ledger cash (checking) account had a balance of $42,392 at the end of October. Deposits were processed by the bank except for those totaling $5540. In addition, a check for $420 for the purchase of office furniture was incorrectly recorded by the company as a $42 disbursement. The bank correctly processed the check during October. Required: 1. Prepare a bank reconciliation for the month of October. 2. Prepare the necesaury journal entries at the end of October to adjust the general ledger cash account. Balance per bank statement educt: orrected cash balance alance per books Corrected cash balaneGeneral Journal No Transaction Debit Credit
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