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 $ 9,200 $ 9,770 Book Balance Bank Balance Add Deposit in transit 1,350 10,550 Deduct Outstanding cheque #14 Adjusted Balance 780 9,770 Adjusted Balance 9,770 The cash account in General Ledger appeared as follows on July31,2020 Cash Explanation Debit $ Credit $ Date June 30 July 31 31 ACC No.101 Balance $ 9,770 14,810 11,668 5040 3,142 A list of deposits and cheques written during July, taken from cash receipts Journal and cash disbursements Journal is shown below: Deposits Made July 8 11 24 31 $ 1280 1675 1445 640 Cheques Written Number 52 1,796 53 964 54 382 Total disbursements 3,142 Total Receipts 5,040 The following bank statement is available for July Bank Statement Cheques / Charges Deposits/Credits NSF #52 #96 07/02 07/08 07/11 465 1,796 420 07/02 07/08 07/11 07/24 07/31 1,350 1,280 1,675 1,445 Balance 9,200 10,085 9,569 10,824 12,269 11,887 INT 07/31 #54 NSF 382 SC PMT 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