1. Selected columns of the cash receipts journal and the cheque register of Lawrence Co. appear as follows on January 31, 2021: Cash Receipts Journal Cheque Register (Posting reference is CR) (Posting reference is CP) The cash account of Lawrence Co. shows the following information on January 31, 2021: Cash at bank Date Item PR Debit Credit Balance Date Cash Debit Cheque No. Cash Credit Jan. 1 Balance $ 5,682 Jan. 3 $ 242 669 $ 232 31 CR 1 5,348 11,030 7 701 670 2.114 31 12 CP 2 408 671 445 6,166 4,864 14 900 672 756 24 2,715 673 905 Lawrence Co. received the following bank statement on January 31, 2021. 31 382 674 105 Bank Statement for Lawrence Co. 675 781 $ 5,682 676 828 Beginning balance Deposits and other credits: Jan. 4 4 242 Total $5,348 Total 56,166 8 8 701 11 1,830 BC 13 408 15 900 25 2,715 31 16 INT 6,812 Cheques and other debits: Jan. 3 $ 725 7 223 11 2,114 12 445 15 756 20 175 Dishonoured 24 905 30 781 31 14 SC 6,138 $6,356 Ending balance: Legend: = BC = Bank Collection Dishonoured = Dishonoured Cheque SC = Service Charge INT = Interest Earned Additional data for the bank reconciliation: 1. The $1,830 bank collection on Jan. 11 includes $130 interest revenue. The balance was attributable to the collection of a bill receivable. 2. The correct amount of cheque number 669 is $223, a payment on account. The Lawrence Co. bookkeeper mistakenly recorded the cheque in the cheque register as $232. 3. The dishonoured cheque was received from Yum Yum Restaurant. 4. The bank statement includes a $725 deduction for a cheque drawn by Morton Co. The bank has been notified of its error. 5. The service charge consists of two charges: $4 for the monthly account charge and $10 for the dishonoured cheque. Required: 1. Prepare the bank reconciliation of Lawrence Co. on January 31, 2021. 2. Record the journal entries based on the bank reconciliation. Include explanations