For this application assignment, you are going to complete a Bank Reconciliation. Bank reconciliations are a key component of cash and internal controls for an organization and a primary responsiblity of the accounting department. The Appendix A for Chapter 7 reviews several cash related items, and bank reconciliations are covered on pages 7-33 to 7-35. In the attached Excel file I have provided the problem instructions on the first tab, the Bank Reconciliation and JE's workpapers (to be completed by you) on the second tab, and a Quick Reference for bank reconciliations on the third tab that you might find useful in preparing the reconciliation. 1. Your assignment is to complete the Bank Reconcilation (part a) using the format provided in the text, Illustration 7A-2 on page 7-35. Then, you must complete the related journal entries for the reconciliation (part b). You will only be completing this one tab in the Excel workbook (the highlighted orange tab). 2. Once you have completed this tab, rename the workbook with the following format "last name.first name_App2_Ch7" and submit through Blackboard by the due date. This assignment is worth 25 points. HELPFUL HINT: Remember that all journal entries will be an addition to or subtraction from the Cash account - so Cash will always be involved in each journal entry. Also remember the purpose of the journal entries is to take the beginning cash balance (before the reconciliation) and book the debits/credits necessary to make the ending cash balance on the ledger the same as the calculated ending cash balance. Do not combine different events into one journal entry. For this application assignment, you are going to complete a Bank Reconciliation. Bank reconciliations are a key component of cash and internal controls for an organization and a primary responsiblity of the accounting department. The Appendix A for Chapter 7 reviews several cash related items, and bank reconciliations are covered on pages 7-33 to 7-35. In the attached Excel file I have provided the problem instructions on the first tab, the Bank Reconciliation and JE's workpapers (to be completed by you) on the second tab, and a Quick Reference for bank reconciliations on the third tab that you might find useful in preparing the reconciliation. 1. Your assignment is to complete the Bank Reconcilation (part a) using the format provided in the text, Illustration 7A-2 on page 7-35. Then, you must complete the related journal entries for the reconciliation (part b). You will only be completing this one tab in the Excel workbook (the highlighted orange tab). 2. Once you have completed this tab, rename the workbook with the following format "last name.first name_App2_Ch7" and submit through Blackboard by the due date. This assignment is worth 25 points. HELPFUL HINT: Remember that all journal entries will be an addition to or subtraction from the Cash account - so Cash will always be involved in each journal entry. Also remember the purpose of the journal entries is to take the beginning cash balance (before the reconciliation) and book the debits/credits necessary to make the ending cash balance on the ledger the same as the calculated ending cash balance. Do not combine different events into one journal entry.