PARTI You are auditing general cash for Resilience Supplies Inc. for the fiscal year ended July 31. The client has not prepared the July 31 bank reconciliation. After a brief discussion with the owner, you agree to prepare the reconciliation with assistance from one of Resilience Supplies' clerks. You have obtained the following information: Beginning balance Deposits Cash receipts journal Cheques cleared Cash disbursements journal July bank service charge Note paid directly Customer NSF cheque Ending balance General Ledger Bank Statement $ 60,183 $ 75,680 63,433 64,897 (45,184) (49,117) (105) (12,840) (1.840) $ 75,963 $ 79,144 June 30 Bank Reconciliation: Information in General Ledger and Bank Statement $75,680 6,700 23,250 60,183 Balance per bank Deposits in transit Outstanding cheques Balance per books In addition, the following information is obtained: 1. Cheques clearing that were outstanding on June 30 totaled $8,350. 2. Cheques clearing that were recorded in the July disbursements journal totaled $36, 834. 3. A cheque for $4,600 cleared the bank but had not been recorded in the cash disbursements journal. It was for an acquisition of inventory. Resilience Supplies uses the periodic inventory method. 4. A cheque for $1,053, written on an associated company's bank account, was charged to Resilience Supplies. 5. Deposits included $6,700 from June and $56,733 for July. 6. The bank withdrew from Resilience Supplies' account a nonsufficient funds (NSF) customer cheque totaling $1,840. The credit manager concluded that the customer intentionally closed its account and that the owner had left the city. The account was turned over to a collection agency. 7. The bank deducted $12,000 plus interest from Resilience Supplies' account for a loan made by the bank under an agreement signed four months ago. The note payable was recorded at $12,000 on Resilience Supplies' books. Required a. Prepare a bank reconciliation that shows both the unadjusted and adjusted balances per the general ledger. b. Identify the nature of adjustments required