d the following information to vas not processed by the bank until February 1. Internal Control, and Cash 3. Use the January 31 balance in Cash from requirement 2 and the following in prepare a bank reconciliation. PRS's bank reported a January 31 balance of $0,3 j. The bank deducted $500 for an NSF check from a customer deposited on Januar k. The check written January 6 has not cleared the bank, but the January 2 payme cleared. 1. The cash received and deposited on January 31 was not processed by the bank until m. The bank added $5 cash to the account for interest earned in January. n. The bank deducted $5 for service charges. Prepare journal entries for items (1)-(n) from the bank reconciliation, if applicable, and them to the T-accounts. If a journal entry is not required for one or more of the records items, indicate "no journal entry required." (If you are using Connect, journal entries will be automatically posted after you enter them.) Prepare adjusting journal entries on 1/31, using the following information. o. Depreciation for the month is $200. p. Salaries and wages totaling $1,500 have not yet been recorded for January 16-31. 4. Prepaid Rent will be fully used up by March 31. r. Supplies on hand at January 31 were $500. s. Received $600 invoice for January electricity charged on account to be paid in February but is not yet recorded. 1. Interest on the promissory note of $60 for January has not yet been recorded or paid. 1. Income tax of $1,000 on January income has not yet been recorded or paid. Post the adjusting journal entries from requirement 5 to the T-accounts and prepare an adjusted trial balance. (If you are completing this requirement in Connect, it will be completed for you using your previous answers.) 7. Prepare an income statement for January and a classified balance sheet at January 31. Report PRS's cash and cash equivalents as a single line on the balance sheet. 8. Calculate the current ratio at January 31 and indicate whether PRS has met its loan covenant! that requires a minimum current ratio of 1.2. 9. Calculate the net profit margin and indicate whether PRS has achieved its objective of 10 percent