Exercise1: Basel AG is unable to reconcile the bank balance at January 31. Basel's reconciliation is as follows. Cash balance per bank Add: NSF check Less: Bank service charge Adjusted balance per bank Cash balance per books Less: Deposits in transit Add: Outstanding checks Adjusted balance per books CHF3,660.20 590.00 30.00 CHF4,220.20 CHF3,825.20 480.00 935.00 CHF4,280.20 Instructions (a) Prepare a correct bank reconciliation (b) Journalize the entries required by the reconciliation