Internal Control and Cash Using Excel for a Bank Reconciliation Lori Anders of Wilderness Associates is getting ready to prepare the October bank reconciliation. The cash balance on the books of Wilderness Associates on October 31 is $3,546. Lori reviews the bank statement, and notes the cash balance at October 31 of $2,445. The bank statement also reveals that the bank collected a note receivable on behalf of Wilderness Associates the principal was $1,500 and the interest was $15. One customer's check for $29 was returned by the bank for insufficient funds. Two additional items on the bank statement were the monthly EFT for the utilities, $250, and the bank service fee of $12. Lori notes that the cash deposit made on October 31 of $3,300 does not appear on the statement, and that three checks 6 totaling $975 had not cleared the bank account when the bank statement was prepared.

A B D E F G H Wilderness Associates Bank Reconciliation October 31, 2018 Bank: Balance, October 31, 2018 3,546 Add: Deposit in Transit 1,515 5,061 Less: Bank Collection of Note Receivable 29 5 Adjusted bank balance, October 31, 2018 17 8 Books: 9 Balance, October 31, 2018 $ 3,546 20 21 Add: 22 Bank Collection of Note Receivable $ 1,515 23 Interest Revenue 24 25 26 Less 27 EFT - Utilities Expense 28 NSF Check 29 30 31 Adjusted book balance, October 31, 2018 22 Instructions ENTERANSWERS 1 ENTERANSWERS2 Ready