Oscar's Red Carpet Store maintains a checking account with Academy Bank. Oscar's sells carpet each day but makes bank deposits only once per week. The following provides information from the company's cash ledger for the month ending February 28, 2021. Deposits: 321 Date 2/4 2/11 2/18 2/25 2/26-2/28 Amount $3,800 650 Amount $ 1,800 Checks 1,400 2,300 3,200 700 $ 9,400 No. Date 22/2 2/8 2/12 2/19 325 2/27 326 2/28 327 2/28 Cash receipts: 1,300 450 N N N 1,000 Balance on February 1 Receipts Disbursements Balance on February 28 ANNN o $ 5,900 9,400 (9,750) $ 5,550 Information from February's bank statement and company records reveals the following additional information: a. The ending cash balance recorded in the bank statement is $8,160. b. Cash receipts of $700 from 2/26-2/28 are outstanding. c. Checks 325 and 327 are outstanding. d. The deposit on 2/11 includes a customer's check for $450 that did not clear the bank (NSF check). e. Check 323 was written for $2,500 for advertising in February. The bank properly recorded the check for this amount. f. An automatic withdrawal for Oscar's February rent was made on February 4 for $1,200. g. Oscar's checking account earns interest based on the average daily balance. The amount of interest earned for February is $110. h. In January, one of Oscar's suppliers, Titanic Fabrics, borrowed $4,200 from Oscar. On February 24, Titanic paid $4,400 ($4,200 borrowed amount plus $200 interest) directly to Academy Bank in payment for January's borrowing. i. Academy Bank charged service fees of $100 to Oscar's for the month. Required: 1. Prepare a bank reconciliation for Oscar's checking account on February 28, 2021. (Amounts to be deducted should be indicate with a minus sign. Total entries to the same account together when entering in the bank reconciliation.) OSCAR'S RED CARPET STORE Bank Reconciliation February 28, 2021 Bank's Cash Balance Company's Cash Balance Per bank statement $ 8,160 Per general ledger Checks outstanding T (1,450) NSF check Deposits outstanding 700 EFT for rent Interest on note Interest on account Service fees (450) (1,200) 206 110 (100) Bank balance per reconciliation $ 10,310 Company balance per reconciliation $ 2,060