1. Merlion Ltd. in Singapore got a bank statement for May 2020, which shows the following data in part. (Currency in Singaporean dollar, S$.)

Balance 5/1 S$126,500 Balance 5/31 S$142,800

Debit memorandum: Credit memorandum:

NSF check S$1,750 Collection of note receivable S$5,050

The cash balance per books at May 31 is S$133,190. Further review of the bank statement reveals the following.

1. The NSF check was from Malacca Co., a customer.
2. The note collected by the bank was a S$5,000, 3-month, 12% note. The bank charged a S$100 collection fee. No interest has been accrued.
3. Outstanding checks at May 31 total S$24,100.
4. Deposits in transit at May 31 total S$17,520.
5. A Merlion Ltd. check for S$3,520, dated May 10, cleared the bank on May 25. The company recorded this check, which was a payment on account, for S$3,250.

Instructions (30%):

(a) Prepare a bank reconciliation at May 31.

(b) Journalize the entries required by the reconciliation.