Question 1: Bank Reconciliation As of May 31, 2023, the XYZ Company had a balance of $10,500 in its cash account per the company's books. The balance per the bank statement for the same date was $9,600. The following reconciling items were identified: 1. Outstanding checks totaling $1,200. 2. A deposit in transit of $2,200. 3. A bank service charge of $50. 4. Interest income credited by the bank but not yet recorded by XYZ Company of $150. Compute the bank reconciliation to find the adjusted cash balance per books and per bank at the end of May 2023. Please also prepare the journal entries for any applicable transactions