h. On August 31, the Grayson treasurer deposited $354.38. which will appear on the Sep i. The bank statement includes a $268.40 deposit that Grayson did not make. The hunt j. The bank statement includes two charges for returned checks from customers. One is a $158.50 check received from a customer with the imprint "Unauthorized Signature. The other is a nonsufficient funds check in the amount of $67.45 received 1. Prepare the bank reconciliation for Grayson Engineering Associates. 2. Journalize the August 31 transactions needed to update Grayson's Cash account. lacta P5-64A. (Learning Objective 3: Preparing a bank reconciliation and the related journal entries) The August 31 bank statement of Grayson Engineering Associates has just arrived from Carolina First Bank. To prepare the Grayson bank reconciliation, you gather the following data a. Grayson's Cash account shows a balance of $8.158.71 on August 31. b. The August 31 bank balance is $8,789.23. c. The bank statement shows that Grayson earned $18.58 of interest on its bank balance during August. This amount was added to Grayson's bank balance. d. Grayson pays utilities (S740) and insurance ($290) by EFT. e. The following Grayson checks did not clear the bank by August 31: Check No. Amount 237 $401.00 288 74.82 291 33.25 293 165.55 294 236.00 295 47.75 296 107.85 f. The bank statement includes a deposit of $895.15, collected on account by the bunk on behalf of Grayson. g. The bank statement lists a $7.50 bank service charge. tember bank statement. added $268.40 to Grayson's account for another company's deposit. from another customer. Requirements explanation for each entry