prepare a bank reconciliation as at January 31, 2021

Question 5 (4 points) Nextwave Software Ltd. (NSL) received the monthly statement for its bank account, showing a balance of $37,580 on January 31, 2021. The balance in the cash account in the company's accounting system at that date was $35,415. The company's accountant reviewed the statement and the company's accounting records and noted the following: I I. A cheque from one of NSL's customers in the amount of $850 that was deposited on January 15" was returned with the bank statement as NSF. 2. The company had written and mailed out cheques with a value of $4,230 that had not yet cleared the bank 3. The bank statement included a cheque written to pay utilities expense for 5620. However, the bookkeeper noticed this was incorrectly recorded as $260 in the accounting records. 4. The company made a deposit for $2,420 on January 31" through the bank's night deposit slot. This deposit was not reflected on the bank statement until February 2021. 5. The bank statement showed an EFT payment from a customer deposited to the account on January 17 in the amount of $1,650. 6. The bank statement showed bank service charges for the month of January of $85. Required: (4 marks - 10 minutes) Prepare a bank reconciliation as at January 31, 2021