Question 1 (25 marks) Shown below is the information needed to prepare the bank reconciliation for Tommy Company on 30 November 2023: (1) The cash ledger account showed a balance of $3,049, while the bank statement indicated a cash balance of $5,728. (2) The bank statement showed $58 interest earned for the month of November. (3) Bank service charge amounted to $140. (4) The bank returned a customer's NSF check for $689 received as settlement of an account receivable. (5) A debit memorandum enclosed with the November bank statement for $350 telephone charge for November, 2023. (6) A customer settled its non-interest bearing notes payable by depositing $8,000 directly into Tommy's bank account. (7) An $800 check mailed to the bank for deposit had not reached the bank on 30 November. (8) The accounting records showed that check written in November amounted to $130,000, but only $128,500 of them was found in the bank statement. The remaining amount is still outstanding. (9) The bank statement showed a $1,200 check received from a tenant for rental revenue. The accountant checked ledger account and revealed that the correct amount should be $2,100. (10) $2,000 cash purchase of inventory on 23 November was mistakenly recorded as cash sale of inventory. The company adopts periodic inventory system. Required: (a) Prepare the bank reconciliation for the month of November 2023. (b) Prepare the necessary journal entries to update the accounting records. (16 marks) (9 marks)