E8-20 Preparing a bank reconciliation Learning Objective 5 1. Book Deductions $338 Vern Neal Company operates four bowling alleys. The business just received the October 31, 2016, bank statement from City National Bank, and the statement shows an ending balance of $925. Listed on the statement are an EFT rent collection of $390, a service charge of $7, NSF checks totaling $50, and a $20 charge for printed checks. In reviewing the cash records, the business identified outstanding checks totalling $475 and a deposit in transit of $1,760. During October, the business recorded a $290 check by debiting Salaries Expense and crediting Cash for $29. The business's Cash account shows an October 31 balance of $2,158. Requirements 1. Prepare the bank reconciliation at October 31 . 2. Journalize any transactions required from the bank reconciliation