1. Prepare bank reconciliation and related adjusting journal entries. On July 31, 201X, KJansen Inc. had a cash balance per general ledger or books of $6,140.00 The bank statement from Wells Fargo Bank on that date showed a balance of $7,690.80. A comparison of the bank statement with the Cash account revealed the following facts. The bank service charge for July was $25. The bank collected $1,520 for KJansen Inc. through electronic funds transfer. This amount was for a payment against a customer's accounts receivable The July 31 receipts of $1,193.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31. Company check No. 2480 issued to Save Inc, an accounts payable creditor, for $384 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $348. Checks outstanding on July 31 totaled $1,860.10. On July 31, the bank statement showed an NSF charge of $575 for a check received by the company from John Smith, a customer, on account (a payment for his account receivable) 1. 2. 3. 4. 5. 6. Instructions (a) Prepare the bank reconciliation as of July 31. Use the template below. Make sure you list each item in addition to the dollar amount. (Check: Adjusted cash balance per books and per bank should be $7,024). 4 points) (b) Prepare all necessary adjusting entries at July 31. Use the date of July 31. (4 points)