20. Tiger Honey's cash ledger shows a balance of $2,870.20, which includes a deposit in transit of $890.60 and outstanding checks totaling $500.75. Prepare a bank reconciliation for the company with the given bank statement for the month of August. Record the journal entries to update the company's cash ledger to the adjusted balance. All electronic transfers received should be applied to accounts receivable, while electronic transfers sent should be applied to the company's outstanding accounts payable balance with Busy Bees. Charles K. Bank of the Carolinas Page 1 Account number 215350 From 7/31/20Y5 to 8/31/20Y5 Balance 7/31 $2.397.72 Date 8/2 Deposit 8/5 NSF Dan Snead (46.49) 8/8 ACH Amount Balance 320.25 2,717.97 2,671.48 300.15 2,971.63 8/12 Check No. 545 (37.50) 2,934.13 8/15 Notes Receivable 300.00 3,234.13 8/20 ACH (312.50) 2,921.63 8/24 Check No. 546 (200.12) 2,721.51 8/28 NSF Jill Jackson (124.50) 8/31 Service Charge (15.00) 8/31 ACH 2,597.01 2,582.01 350.00 2,932.01 Balance 8/31 $2,932.01 21. On March 1, 20Y5, Tiger's Honey creates a $750 petty cash fund to pay for small expenses. At the end of the month, the petty cash receipts included payments for: office supplies, $225; plumbing repair (record as a maintenance expense), S190; and shipping expenses, $60. The petty cash fund had $265 on hand at the end of the month. Prepare the journal entries to establish the fund and replenish the fund at the end of the month, recording any shortage or overage in the account.