The cash account for Coastal Bike Co. at October 1, 20Y9,indicated a balance of $5,140. During October, the total cashdeposited was $39,175, and checks written totaled $40,520. The bankstatement indicated a balance of $8,980 on October 31, 20Y9.Comparing the bank statement, the canceled checks, and theaccompanying memos with the records revealed the followingreconciling items: A. Checks outstanding totaled $5,560. B. Adeposit of $1,050 representing receipts of October 31, had beenmade too late to appear on the bank statement. C. The bank hadcollected for Coastal Bike Co. $2,120 on a note left forcollection. The face of the note was $2,000. D. A check for $370returned with the statement had been incorrectly charged by thebank as $730. E. A check for $310 returned with the statement hadbeen recorded by Coastal Bike Co. as $130. The check was for thepayment of an obligation to Rack Pro Co. on account. F. Bankservice charges for October amounted to $25. G. A check for $880from Bay View Condos was returned by the bank due to insufficientfunds. Instructions 1. Prepare a bank reconciliation as of October31, 20Y9. Refer to the Amount Descriptions list provided for theexact wording of the answer choices for text entries. For thoseboxes in which you must enter subtracted or negative numbers use aminus sign. 2. Journalize the necessary entries. Refer to the Chartof Accounts for exact wording of account titles. 3. If a balancesheet were prepared for Coastal Bike Co. on October 31, 20Y9, whatamount should be reported as cash? Amount Descriptions Adjustedbalance Bank error in charging check as $370 instead of $730 Bankerror in charging check as $730 instead of $370 Bank servicecharges Check returned because of insufficient funds Company errorin recording note collected by bank Deposit of October 31, notrecorded by bank Error in recording check Outstanding checksProceeds of note collected by bank, including $120 interest Totaladjustments