Dexter Ltd had a cash balance per book of $ 40,690.50 on Jun 30, 2022. The bank statement from South Pole Bank showed a balance of $40,947.60. After rechecking, some information was found:

1. Dexter was deposited $5,016.90 in the bank for cash sales on June 11. The cash receipts journal entry and the deposit slip were incorrectly made for $5,160.90. The bank credited Dexter company for the correct amount.

2. Notes receivable were collected by the bank for Dexter on Jun 30 with the amount $18,000 plus $520 interest. South Pole Bank charged $120 for collection fee.

3. Non sufficient fund check $1,920 for a check issue from Dr. Rosaline, a customer, showed on Dexter bank statement.

4. Canceled check was a check issued by Hawk Ltd to Mr. Shin for $5,700 was incorrectly charge to Dexter by the bank.

5. Issued check no 110 for $4,710 to Clarise on account. The check was incorrectly journalized and posted by Dexter for $4,170.

6. Outstanding checks on Jun 30, totaled $1,658 and deposit in transit were $11,496.90

Required:

a. Prepare the bank reconciliation on Jun 30, 2022 and interpret the result!

b. Journalize the adjusting entries needed for Dexter on Jun 30, 2022 and please give your explanation for the entries!