Question A2 (continued) Part II NFL Company received the bank statement from Bank Agricole. As at 31 March 2022, the bank balance was $35,025. The cash account in the general ledger of NFL showed a balance of $31,196. NFL adjusts its accounts monthly and closes its accounts annually. The bank statement provided the following information: (1) The deposits received by Bank Agricole in March was $3,488 whereas the general ledger of NFL showed the deposits of $4,460. (2) A bank service charge $40 showed in the bank statement. The accountant found that the bank made an error and the service charge should be $100. (3) A $900 check marked NSF was returned to Bank Agricole. The bank charged a handling fee of $20 on the statement. (4) Check no. 0205 was actually written by NFL in the amount of $320 for the purchase of cleaning supplies but was erroneously recorded in the general ledger as $302. (5) The following checks issued by NFL were still outstanding: Check number 0199 0201 0211 0215 Amount (S) 1,240 1,293 95 703 (6) On 31 March, Bank Agricole directly credited to the account of NFL an interest-bearing note receivable from a customer of NFL totalled $2,448 for settling the 4% p.a., 6-month note receivable of $2,400 made on 1 October 2021. No payment had ever received from the customer before. (7) There were no outstanding checks and deposits in transit at the end of February 2022. Required: (a) Prepare the bank reconciliation statement for the month of March 2022. (8 marks) (b) Prepare the necessary adjusting journal entries to update the accounting record. (9 marks)