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On July 31, 2021, Aero Company had a cash balance of 2,640. On the same date, its bank statement from Northeast Bank showed a balance

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On July 31, 2021, Aero Company had a cash balance of 2,640. On the same date, its bank statement from Northeast Bank showed a balance of 4,187. Upon the accountant's investigation, the following information were obtained: 1. Interest collected by the bank on behalf of Aero, 240. The bank charged Aero 12 for collection fees. 2. Deposits made by Aero but not yet recorded by Northeast amounted to 975. 3. A check for 365, which was received by Aero from a customer, bounced back. 4. Payments made by Aero through checks but were not yet cleared by the bank amounted to 2,943. 5. Jly bank service charges amounted to 5. 6. A check amounting to 952 was collected by Northeast but recorded at 673. Required: 1. Prepare a bank reconciliation for the month ended July 31, 2021. 2. Prepare all necessary journal entries in the books of Aero Company

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