please help understand the steps to follow to solve this question

11/2/21, 4:34 PM Studocu is not sponsored or endorsed by any college or university Downloaded by Gurleen Sharma (gurleen sharma09@gmail.com) Lab 7.3 (Question 1)-Lyryx Learning Inc lyryx Lab 7.3 (Question 1) Name Mike Sawicki Sawicki Date 2021-10-18 12:17 Spreadsheet Print Preferences Help Question 1 [35 points] Consider the following information and prepare a bank reconciliation, along with any resulting journal entries, for X-cell Inc. for the month ended August 31, 2015. Please enter journal entries for each of the following, If required. Enter the corresponding number as the description for each entry. Also, the dates must be entered in the format dd/mmm (le 15/Jan). 1. Outstanding deposit 2. Interest earned 3 NSF cheque 4. Bank service charge 5. Error 6. Notes receivable collected 7. Outstanding cheque Bank statement balance. Add: Outstanding deposit X-cell Inc. Bank Reconcllation July 31, 2015 24,400 Book balance, 950 Add: Interest eamed Deduct Outstanding cheques Adjusted bank balance, #413 25,350 Deduct 950 Bank service charge, 24.400 Adjusted book balance 24.414 24,420 20 24,400 Bank Statement www.Cash Account No. 101 To: X-cell Inc. Cheques/Charges/Debits August 31, 2015 Deposits/Credits Date Desc. PR Debit Credit Balance Balance 31/Jul Balance 24,400 31/Aug CR13 3:050 27,450 24,400 #418 03/Aug 900 03/Aug 950 24,450 31/Aug CD15 10,850 16,600 #415 07/Aug 1,150 07/Aug 050 24.350 #413 09/Aug 950 09/Aug 800 24,200 #416 11/Aug 950 23,250 #419 11/Aug 950 22,300 #420 15/Aug 1:300 21,000 #417 23/Aug 750 20,250 NSF 24/Aug 450 19.800 #414 30/Aug 1000 8,800 Bank service 31/Aug 20 Interest 8,787 The NSF cheque for $450 was that of a customer Deposits Made August 7 Cheques Written 050 ,000 1,150 1200 950 Total August Cash 3.050 750 900 950 1,300 421 422 423 1,350 1,200 1,300 This document is available free of charge on studocu https://fa1.lyryx.com/student-servlets/LabServletlab-70038singleQuestion-0&commands1&cod-7845 11/2/21, 4:34 PM Downoaded by Gurleen Sharma (gurleen.sharma09@gmail.com) Lab 7.3 (Question 1)-Lyryx Learning Inc Total August Cash Disbursements- X-ce 2 of 3 Bank Reconciliation August 31, 2015 10.850