Question 4 Zel Enterprise most recently reconciled its bank statement and book balances of cash on 30 June 2019 and reported two cheques outstanding at that time No. 1001 for RM878 and No. 1020 for RM1,670. The following information is available for its 31 July 2019 reconciliation: From the 31 July Bank Statement Total Cheques Total Deposits Previous Current Balance and Debits and Credits Balance 15,623 26,019 23,600 13,204 Cheques and Debits Deposits and Daily Balance Credits Date No. Amount Date Amount Date Amount 878 5 Jul 01 1001 1,983 30 23,600 Jul Jun 03 1023 245 14 2,110 1 Jul 22,722 Jul Jul 05 1022 1,118 22 1,786 3 Jul 22,477 Jul Jul 6,600 CM 5 Jul 23,342 10 1024 2,153 24 Jul Jul 21,189 18 550 NSF 27 3,144 10 Jul Jul Jul 24 1027 7,266 14 23,299 Jul Jul 27 1025 184 18 22,749 Jul Jul 795 29 1028 22 24,535 Jul Jul 24 31 15 SC 23,869 Jul Jul 27 26,829 Jul 29 26,034 Jul 26,019 31 Jul From the accounting records of Zel Enterprise Cash Receipts Deposited Date Cash Disbursements Check Cash Cash Debit No. Credit 1,983 2,110 1,786 3,144 2,470 5 Jul 1022 1,118 14 Jul 22 Jul 1023 245 1024 2,153 27 Jul 1025 184 31 Jul 1026 498 7,266 11,493 1027 1028 785 1029 705 12,954 Cash Explanation 30 Jun Balance 31 Jul Total receipts 31 Jul Total disbursements Credit Date Debit Balance 21,052 32,545 19,591 11,493 12,954 Additional information: Cheque No. 1028 is correctly drawn for RM795 to pay for July utilities, however, the record-keeper misread the amount and entered it in the accounting records with a debit to Utilities Expense and a credit to Cash for RM785. The bank paid and deducted the correct amount. The non-sufficient funds (NSF) cheque shown in the statement was originally received from a customer, Ariel Fish, in payment of her account. The company has not yet recorded its retun. il The credit memorandum (CM) is from RM6,700 note that the bank collected for the company. The bank deducted an RM100 collection fee and deposited the remainder in the company's account. The collection fee have not yet been recorded. The bank levied a service charge (SC) of RM15 on 31 July 2019 iv Required: a. Prepare the 31 July 2019 bank reconciliation for Zel Enterprise. (11 marks) b. Prepare the journal entries to adjust the book balance of cash to the (9 marks) reconciled balance