Bank Reconciliation Paul, owner of PLO Inc., needs your help to prepare the bank reconciliation on May 31, 2020, based on the following information. - As of May 31, the ledger indicates the Cash balance as $11,589. - There is one deposit in transit, for an amount of $2,201. - Cheque no. 443 was correctly written (for $1,226) to pay a supplier. However, the accountant made a mistake and it was recorded in the books as $1,262. - On May 27, the bank statement shows that a note receivable was collected for $1,050 ($1,000 for the note and $50 for the interest). - On May 30, the bank took $45 for "Bank Service Charge". - A cheque for $426 from a client was deposited on May 21, but was marked as NSF and charged back to the bank account. - Two cheques were sent by mail on the last day of May: no. 460 ($3,000) and no. 457 ($1,401) - The cheque no. 448 ($1,503) was sent in April, but has not been cashed by the supplier yet. - As of May 31, the bank statement shows a balance of $15,907. Required: 1. Prepare the bank reconciliation as of May 31, 2020 using the proper format. 25 marks 2. Prepare the journal entries to adjust the books as of May 31, 2020. 10 marks The bank reconciliation should indicate the nature of each amount, as well as cheques numbers