P4-2B. Preparing a bank reconciliation (Learning Objective 1) 20-25 min. The March bank statement of Sparky's Sub Shop just arrived from Inland Bank. To prepare the bank reconciliation, you gather the following additional data: a. The following cheques are outstanding on March 31 : b. On March 31. Sparkys Sub Shop's treasurer deposited \$320, but this deposit does not appear on the bank statement. c. The bank statement includes a $674 deduction for cheque 1668 written by Frank's Franks rather than Sparkys Sub Shop. Snarkys Sub Shop notfied the bank of this orror. Sub Shop. Sparky's Sub Shop notified the bank of this error. d. Sparky's Sub Shop's Cash account shows a balance of $12,600 on March 31. e. The EFT for $1,200 was a collection of rent revenue and the EFT deposit for $350 was a collection on account. Requirements 1. Prepare the bank reconciliation for March 31. 2. Record the journal entries called for by the reconciliation. Include an explanation for each entry