An example of how it should look like:

1. The following is information for QRQ Company on June 30, 2021 The bank statement for QRQ Company has a balance of $320,359.78 as of June 30. As of the same date, the balance in Cash in Bank in QRQ Company's book is $280,893.79. The following checks were outstanding: o Check #812: $10,061.00 o Check #878: $ 435.39 o Check #883: $ 1,048.60 o Check #885: $ 1,000.00 Receivables collected by bank's lockbox but not yet recorded on QRQ's book, in the amount of $22,900.00 Bank Service charges of $100.00 that hasn't been recorded on QRQ's book. A customer's check was returned by bank due to NSF, in the amount of $370.00 Check #879 was written for $1,723.26 to XZY Co, and was cleared by bank in the amount of $1,732.26. Bank collected $4,500.00 of interest, from the bonds held by the bank for QRQ, that QRQ has not yet recorded. . . 1(a) Prepare a Bank reconciliation 1(b) Prepare Adjusted Journal Entries for QRQ XYZ Company Bank Reconciliation Statement Month Ended December 31, 2019 Bank balance as of December 31, 2019 Add: Deposit in Transit Bank Error - Ck#221 $300,000.00 $ 20,220.00 $ 1,300.00 $ (300.00) $ 1,000.00 Less: Outstanding Checks Check#237 Check#241 Check#256 Check#257 $ 15,000.00 $ 2,000.00 $ 6,000.00 $ 13,000.00 $ (36,000.00) Adjusted Bank Balance $285,220.00 XYZ Book balance as of December 31, 2019 $260,900.00 Add: Receivable collected by bank Interest earned $ 25,000.00 $ 20.00 $ 25,020.00 Less: NSF check Bank charges $ $ 600.00 100.00 $ (700.00) Adjusted Book Balance: $285,220.00 XYZ needs to enter the following adjusting journal entries: Adjusted Journal Entries Cash Accounts Receivable $20,000.00 $ 20,000.00 Cash $ 5,020.00 Interest Income $ 5,020.00 $ 600.00 Accounts Receivable Cash $ 600.00 $ 100.00 Bank Fee Expense Cash $ 100.00