Lenore, Inc. gathered the following information from its accounting records and the October bank statement to prepare the October bank reconciliation: Ending cash balance per books, 10/31$7,000 Deposits in transit 300 Interest received from bank 1,700 Bank service charge for check printing 60 Outstanding checks 4,000 NSF check of T. Owens 350 The up-to-date ending cash balance on October 31 is: A. $7,940
B. $4,590
C. $8,290
D. $5,290

The up-to-date ending cash balance on October 31 is: $8,290---C

Explanation:

A bank Reconciliation statement helps to match a company's book record to its bank record and adjust discrepancies, If any.

Here, the deposits in transit and outstanding checks fall under the bank's accounting records and will not be involved in the company's additions or deductions in the accounting book balance records.

Ending cash balance as per books = $7,000

Add:

Interest received from Bank =           +$1,700

subtotal                                                $8,700                    

Deduct

Bank Service charge =                        -$60

NSF check =                                        -$350

Up-to-date ending cash balance =     $8,290

d. automatic stabilizers.

explanation: