Assignment Question(s): (5 Marks) 01- A. What is a bank reconciliation and why is it important for companies to do it periodically? B. Prepare a Bank Reconciliation Statement for XYZ company that has: Bank statement of SR 10,000 Cash account of SR7,500. Additional information for the reconciliation: Deposit in transit NSF Check Outstanding check Collections made by the bank. Required: provide an amount of each information to bring the adjusted balances to be equal. (2marks) 02- Assume that you have a company. And the management estimates that 3% of sales will be uncollectible Give any amount of sales and prepare the journal entry using the percent of sales method to account for bad debt. (I mark) ABC company thinks that implementing good internal control is not that important. Your job is to convince the management team to implement it. What would be your advice? (2marks)