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P4-48B. (Learning B. (Learning Objective 4: Prepare a bank reconciliation) The cash data of Eddy Auto- LOG cive for October 2018 follow: Cash Account No. 101 Date lem Jenl. Ref. Debit Credit Balance October 1 Balance CR6 CP 11 9,330 7,950 17280 7,158 10,122 Cash Payments (CP) Cash Receipts (CR) Date Cash Debit October 2 $ 2,828 597 1,652 837 360 904 2,152 Total $9,330 Cash Credit $ 1,542 1,729 1,830 Check No. 3113 3114 3115 3116 3117 3118 3119 3120 3121 3122 Total 782 169 478 1,023 234 2,288 $10,122 Eddy Automotive received the following bank statement on October 31, 2018: Bank Statement for October 2018 Beginning balance Deposits and other additions: October 1 $ 7,950 12 $ 600 EFT 2.828 597 1,652 837 360 1.500 BC 8,374 Checks and other deductions: October 7 $1,542 1,380 419 US 1,729 441 EFT 782 169 10 SC Ending balance (6519) 9,805 Explanation: BC-bank collection of note receivable from customet, EFT-electronic funds transfer, Usunauthorized signature, SC-service charge Chapter 4 is a monthly insure Additional data for the bank reconciliation include the following: a. The EFT deposit was a receipt of monthly rent. The EFT debit was a monthly payment. b. The unauthorized signature check was received from a customer and returned by bank unpaid. c. The correct amount of check number 3115, a payment on account, is $1,380. (B Automotive's accountant mistakenly recorded the check as $1.830.) d. The bank collected a note receivable for Eddy Automotive. Requirements 1. Prepare Eddy Automotive's bank reconciliation at October 31, 2018. 2. Prepare the journal entries required at October 31, 2018. 3. Describe how a bank account and the bank reconciliation help the general manager comel Eddy Automotive's cash

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