Balance of the Cash account of Isofac Company on 31 August 2022 was $42,650, while balance of its bank statement on the same day was $40,400. Isofac adjusts its book monthly. Below is some additional information for August:

There were no outstanding checks and deposit in transit at the end of 31 July 2022

(1) The Company has correctly issued and recorded a check no.113 in the amount of $8,600 to purchase inventories from a supplier. But the bank statement showed the bank has cleared this check incorrectly as $6,800.

(2) The total deposit shown in the bank statement was $158,000 while the accounting records of Isofac showed the total deposit made in August was $183,000.

(3) Papal, a customer of Isofac, directly deposited $500 to Isofacs bank account to settle its outstanding account.

(4) Three checks no. 54, $100; no.56, $200; no.60, $800, issued by Isofac were not found on the bank statement.

(5) A $1,500 check issued by a customer Shine Ltd. in favour of Isofac was returned by the bank because of insufficient fund.

(6) On 1 March, 2022 Isofact signed a 9% 6-month note receivable of $20,000. The note and full amount of the interest was credited directly to Isofacs bank account on 31 August.

(7)The bank debited Isofacs account $50 for bank charges.

Required:

Prepare the necessary adjusting journal entries to update the accounting record.