Correction of Errors On July 31, 2022, Reed Cos ledger Cash account balance is $25,110, its bank statement balance, $27,620. Use the data below to reconcile the two balances as of July 31: Checks outstanding of $6,300 Check #244 to pay the June gas bill was correctly written for $270, but recorded on Reeds books as $720 $60 for a safe-deposit boxbut Reed does not rent one A debit memorandum for $200 for a $175 NSF check and $25 bank NSF fee A $40 debit memorandum for bank service Reed is seeing for the first time A July 31 night deposit of that days cash receipts of $3,940 that is not on the bank statement a. Prepare Reed Cos bank reconciliation for July 31, 20X9. b. Prepare the journal entries required to conform the companys book balance with the reconciled bank balance as of July 31, 20X9.