Assignment 3 Bank Reconciliation problem The bank reconciliation prepared by XYZ companion June 30,2020 appeared as follows: XYZ Company Bank reconciliation June 30,2020 $ S Bank Balance 9,200 Book Balance 9,770 Add Deposit in transit 1,350 10,550 Deduct Outstanding cheque #14 780 Adjusted Balance 9,770 Adjusted Balance 9,770 The cash account in General Ledger appeared as follows on July 31,2020 Cash ACC No.101 Date Explanation Debit $ Credit $ Balance S June 30 9,770 July 31 5040 14,810 31 3,142 11,668 A list of deposits and cheques written during July, taken from cash receipts Journal and cash disbursements Journal is shown below: Deposits Made Cheques Written July S Number 8 1280 52 1,796 11 1675 53 964 24 1445 54 382 31 640 Total Total Receipts 5,040 The following bank statement is available for July disbursements 3,142 Bank Statement Cheques/Charges Deposits/Credits Balance 9,200 NSF 07/02 465 07/02 1,350 10,085 #52 07/08 1,796 07/08 1,280 9,569 #96 07/11 420 07/11 1,675 10,824 07/24 1,445 12,269 #54 07/31 382 07/31 11,887 NSF SC PMT INT In reviewing cheques returned by the bank, the bookkeeper noted that the cheque #96 written by WH construction in amount of $420 was charged against XYZ's account in error by the bank. The NSF cheque was regarding a customer account, TIM. REQUIRED 1. Prepare a bank reconciliationat July 31. 2. Prepare the necessary journal entries to bring to the General Ledger account into agreement with the adjusted balance on the bank reconciliation.