Question $5(11$ marks$)$

World Rally eXperimental Inc. had the following information regarding its bank transactions for the month

of April $2024$:

Unadjusted balance per books April $30$

Unadjusted balance per bank statement April $30$

$$10,945$

Cheques written in April but still outstanding, $$6,000.$

Cheques written in March but still outstanding, $$2,800.$

Deposits of April $30$ not yet recorded by bank, $$6,095.$

A customer's cheque for $$700$ was returned by the bank as NSF$.$ The bank charged a $$20$ NSF fee.

Bank service charge for April was $$30.$

A payment on account $($Cheque #$318)$ was incorrectly entered in the general journal and posted to

the general ledger as $$594.$ However, it had been correctly issued and paid by the bank for $$549.$

Electronic collections on account totalled $$6,150$ and have not yet been recorded by the company.

Required:

a$)$ Prepare the April $2024$ bank reconciliation for World Rally Experimental Inc. $(7$ marks$)$

b$)$ Prepare any required journal entries from the reconciliation. $(4$ marks$)$