Questions 1: The following information relates to GLASGOW Company: The bank collected a $30,000 note for GLASGOW Company in January, plus interest of $2,500, less a bank collection fee of S500. The collection has not been recorded by GLASGOW Company Deposits in transit on January 31 amounted to $20,000. GLASGOW Company received a $5,000 check from a customer for services provided. The company recorded this check in its books by increasing its cash ledger balance by $500. Upon receiving the check, the bank increased the company's bank balance by $5,000 The cash balance per bank statement on January 31 was $90,000 NSF checks amounted to $8,000. The cash balance per books on January 31 was $81,500. Required: Prepare bank reconciliation at January 31 Exercise 2: The following information pertains to Manar Company: The cash balance per bank statement on December 31 was $55,405. The cash balance per books on December 31 was $51,810. Deposits in transit on December 31 amounted to $2,000. Bank charges were $200 The bank collected a $5,500 note for Manar Company in December, plus interest of $200. The collection has not been recorded by the company, and no interest has been accrued Outstanding checks on December 31 was $500 The company received a $450 check from a customer for services provided. The company correctly recorded this check in its books by increasing its cash balance by S450. The bank accidentally recorded the $450 check as $45 You are required to prepare the Bank Reconciliation as on December 31