Sarcon Corp $\text { An analysis of canceled checks and deposits and the records of Sarcon revealed the following item }$

Essay

Sarcon Corp.prepares monthly bank reconciliations of its checking account balance.The bank statement for October, 2016, indicated the following: $\begin{array}{lr}\text { Balance, October 31, } 2016 & \$ 7,920 \\\text { Service charge for October } & 20 \\\text { Interest earned during October } & 30 \\\text { NSF check from Grey Corp. (deposited by Sarcon) } & 32 \\\text { Note }(\$ 1,000) \text { and interest ( } \$ 40) \text { collected for Sarcon from a customer } & 1,040\end{array}$

$\text { An analysis of canceled checks and deposits and the records of Sarcon revealed the following item }$

$\begin{array}{lr}\text { Checking account balance per Sarcon books } & \$ 7,170 \\\text { Outstanding checks as of October } 31 & 952 \\\text { Deposit in transit at October } 31 & 1,310 \\\text { Error in recording a check issued by Sarcon. (Correct amount of the } & 90 \\\text { check is } \$ 450 \text {, but was recorded as a cash disbursement of } \$ 540 \text {. } \\\text { The check was issued to pay for merchandise purchases.) }\end{array}$ ​
Required:
Prepare a bank reconciliation at October 31, 2016 in proper form.