ct. Bank reconciliation Prepare a bank reconciliation as of October 31 from the follow- Exercise 5.7 ing information: LO 3 ✓a. The October 31 cash balance in the general ledger is $1,688. ✓✓b. The October 31 balance shown on the bank statement is $746. ✓c. Checks issued but not returned with the bank statement were No. 462 for $26 and No. 483 for $100. -d. A deposit made late on October 31 for $900 is included in the general ledger bal- ance but not in the bank statement balance. Returned with the bank statement was a notice that a customer's check for $150 that was deposited on October 25 had been returned because the customer's account was overdrawn. f. During a review of the checks that were returned with the bank statement, it was noted that the amount of Check No. 471 was $64 but that in the company's records supporting the general ledger balance, the check had been erroneously recorded as a payment of an account payable in the amount of $46. X4 46 18
