On 31 December 2020, the Cash at Bank balance in the general ledger of Terry Jones Ltd showed a debit balance of $10,163. The bank statement received from Citigroup Bank has a credit balance of $12,120. As a new Accounting trainee at Terry Jones Ltd responsible for preparing bank reconciliation, the chief financial officer provided you with the following additional information: 1. The bank statement showed a debit entry of $120 for bank fees. 2. While the companys record showed $5,500 was deposited by Terry Jones Ltd, the amount has not been recorded yet by the bank as at 31 December. 3. Terry Jones Ltd issued a cheque # 220 for the payment of electricity. While the cheque was correctly written and paid by the bank for $560, the amount was wrongly journalised and posted as $650 by Terry Jones Ltd. 4. Unpresented cheques at 31 December, $6,300. 5. A $1,100 note receivable was collected by the bank for Terry Jones Ltd plus $200 interest. The bank charged collection fee of $50. Terry jones Ltd has not accrued any interest on the note. 6. Cheque # 44, a payment to accounts payable, was correctly written and paid by the bank for $770. The amount entered into the cash payment journal for Cheque #44 was for $707.

Required a. Prepare a bank reconciliation at 31 December 2020 based on the provided information. b. Prepare journal to record the necessary adjusting entries at 31 December 2020.. Narrations are not required.