Review and compare Ann Litigate's trust bank account ledger for January 20** and the trust bank statement for the month-end January 31. a. Record and note any differences and discrepancies. Note that an error was made by the bookkeeper when cheque #0138 was entered. The amount should have been entered as $280 instead of $260. This has resulted in a $20 overdraft in the B. Saul Client Trust Ledger Account. In addition, remember that the service charge should not be deducted from the trust account. The bank will need to be asked to reverse this entry. The error needs to be reconciled and the bank needs to be contacted to correct the account for bank charges. (6 Marks) b. Prepare the bank reconciliation. (10 Marks) Trust Bank Account - Account No. 115 Date 20 Explanation PR Debit Credit Dr./Cr. Balance 01-Jan Opening Balance TJ2 Dr. 10,000 Retainer Received- A. Paulo, Cheque 01-Jan #11225 TJ2 1,500 Dr. 11,500 Refund to Client from Trust-B. Saul, 03 Jan Cheque #0138 TJ2 260 Dr. 11,240 - 20-Jan Transfer from Trust re Invoice #14-201 800 Dr. 10,440 Retainer Received --C. Charles, Cheque 30-Jan #002 TJ2 Dr. 12,440 TJ2 2,000 Bank Statement (Trust Bank Account) Ann Litigate Paralegal Services January 1 to January 31 20** Ref Debit Credit Date 20** 31-Dec 01-Jan 03-Jan 20-Jan 31-Jan 1500 Description Balance Forward Deposit - Cheque Cheque TRF FR 10002 Service Charge Total Debits and Credits Closing Balance 11225 138 JXY01 Dr./Cr. Cr. Cr. Cr. Cr. Cr. Balance 10,000 11,500 11,220 10,420 10,397 280 800 23 1,103 1500 10,417