Question 1 [16 marks] Western Flyers received its bank statement for the month of July 2019 with an ending balance of $11,065.00. Western Flyers determined that check #598 for $125-00 and check #601 for $375.00 were both outstanding. Also, a $?,500.00 deposit for July 30th was in transit as of the end of the month. Big Bucks Bank also collected an amount of $5,300 from a client of Western Flyer as payment of a note {$5,000} and interest {$300) earned on a note. Big Bucks Bank charged Flyers a $15.00 fee for the collection service and $20 for issuance of 10 check books. A check for $?5.00 from Colin Abraham, a client, was returned with the bank statement marked \"NSF". The ending balance of the Western Flyers cash account is $12,876.00. Required: a} Prepare a bank reconciliation based on the above information (9 marks} b} Prepare any necessary journal entries to update the ledger. Explanation is not required. (7" marks)