*/required/* to do:

1. the bank reconciliation as of August 31, 2020, including the calculation of the book balance of August 31, 2020.
2. the journal entries that would be required by the bank reconciliation. Explanations are not required.
   

P8753 Excel Communications had a computer failure on August 1, 2020, which resulted in the loss of data, including the balance of its Cash account and its bank reconciliation from July 31, 2020. The accountant, Brad Eyers, has been able to obtain the following information from the records of the company and its bank: a. An examination showed that two cheques (#461 for $645.00 and #492 for $225.00) had not been cashed as of August 1. Eyers recalled that there was only one deposit in transit on the July 31 bank reconciliation but was unable to recall the amount. b. The cash receipts and cash payments journal contained the following entries for August 2020: \f. The bank provided the following statement as of August 31, 2020: 551 .00 225.00 2, 578.50 670.00 442.50 327.00 360.00 1,792.50 37.50 543.00 BANK STATEMENT FOR AUGUST 2020 876.00 585.00 720.00 1,230.00 335.50 471.00 1,545.00 612.00 3,579.00 3,354.00 775.50 1,551.50 1,555.50 1,115.00 1,535.00 2,739.00 2,215.50 2,555.50 2,439.00 2,401 .50 2,470.50 d. The deposit made on August 16 was for the collection of a note receivable ($540.00) plus interest. e. The EFTs had not yet been recorded by Excel Communications since the bank statement was the rst notication of them. - The August 17 EFT was for the monthly payment on an insurance policy for Excel Communications. - The August 19 and 24 EFTs were collections on accounts receivable. - The August 22 EFT was in errorthe transfer should have been to Accel Communications. f. The NSF cheque on August 26 was received from a customer as payment of $1,792.50 for installation of a satellite purchased from Excel. 3. Cheque #504 was correctly written for $860.00 for the purchase of inventory (assume a perpetual system) but incorrectly recorded by the cash payments clerk. Required 1. Prepare a bank reconciliation as of August 31, 2020, including the calculation of the book balance ofAugust 31, 2020. 2. Prepare all journal entries that would be required by the bank rprrmriliatirm. Exnlanatinnc are not renuired