P8-4 Preparing a bank reconciliation and the related journal entries [2025 min] The 31 August 2016 bank statement of Ward's Supacentre has just arrived from United Bank. To prepare Ward's bank reconciliation, you gather the following data: a Ward's Cash account shows a balance of $2900 on 31 August. b The bank statement includes two dishonoured cheques from customers: $400 and $110. C The following Ward cheques are outstanding at 31 August: Amount Cheque no. 237 288 291 294 295 296 $ 50 170 520 580 50 140 d Ward collects from a few customers by EFT. The August bank statement lists a $1300 EFT deposit for a collection on account. a e The bank statement includes two special deposits that Ward hasn't recorded yet: $970 for dividend revenue, and $80, the interest revenue Ward earned on its bank balance during August. f The bank statement lists a $30 bank service charge. g On 31 August, Ward deposited $350, but this deposit doesn't appear on the bank statement. h The bank statement includes a $1000 deduction for a cheque drawn by Interstate Freight Company. Ward notified the bank of this error. i The 31 August bank is 1870. Requirements 1 Prepare the bank reconciliation for Ward's Supacentre at 31 August 2016