Question 4 (2 points) Indicate the effect of each item listed below on the bank reconciliation. Outstanding cheques. Cheque returned NSF (non- sufficient funds). 1. Increase in the general ledger cash account - journal entry required The company's accountant made an error. Cheque #570 was recorded as $980 when the proper amount was $890. 2. Decrease in the general ledger cash account - journal entry required 3. Increase in balance per bank statement - no journal entry required The bank made an error. Cheque #568 for $4,800 was inadvertently processed as $8,400. The bank has been notified and will correct the error next month 4. Decrease in balance per bank statement - no journal entry required Deposits in transit 5. No effect on the reconciliation - no journal entry required Collanti unt when the proper am was $890. account - journal entry required 3. Increase in balance per bank statement - no journal entry required The bank made an error. Cheque #568 for $4,800 was inadvertently processed as $8,400. The bank has been notified and will correct the error next month. 4. Decrease in balance per bank statement - no journal entry required Deposits in transit 5. No effect on the reconciliation - no journal entry required Collection of interest earned on the bank balance. Bank service charge