Question 1 Bank Reconciliation (10 marks) Information concerning the banking operations of Woods Company for the month of June 2019 is shown below: 1. The ledger account for Cash showed a balance of $2,760 as of the close of business June 30, 2019, while the June 30th bank statement showed an ending cash balance of $890. 3. Cash in the amount of $5,295 was deposited with the bank on June 30, 2019, but did not appear on the June bank statement. 4. Enclosed with the bank statement was a credit memo for $3,250 net, indicating that a non-interest-bearing note receivable had been collected on the company's behalf by the bank from N. Emerson in the amount of $3,260, less the bank's collection charge of $10. 5. The following June cheques had not yet cleared the bank: #711 for $328, #690 for $215, and #599 for $104. 6. Cheque #605 for office supplies in the amount of $86 had been erroneously entered in the company records as $68. The bank correctly processed the cheque 7. A debit memo was included with the cancelled cheques indicating that $204 had been deducted for monthly interest owing on a bank loan. 8. Included with the June bank statement was a $250 cheque drawn by A Smith, a customer of Williams Company. The cheque was marked N.S.F. It had been included in the deposit of June 20th and the bank charged it back against the company's account on June 29th 7. A debit memo was included with the cancelled cheques indicating that $204 had been deducted for monthly interest owing on a bank loan. 8 Included with the June bank statement was a $250 cheque drawn by A. Smith, a customer of Williams Company. The cheque was marked N.S.F. It had been included in the deposit of June 20th, and the bank charged it back against the company's account on June 29th Required: Using the working papers on the next pages a) Prepare, in proper form, a Bank Reconciliation for Williams Company for June 2019 b) Prepare the journal entries necessary to reconcile Williams Company's June 30th book balance of Cash with its adjusted balance on the bank reconciliation