Reynolds's Red Carpet Store maintains a checking account with Academy Bank. Reynolds's sells carpet each day but makes bank deposits only once per week. The following provides information from the company's cash ledger for the month ending February 28, 2024. Date Amount Number Date Amount Deposits: 2/4 $2,550 Checks: 323 2/12 $2,350 2/11 2,150 324 2/19 2,050 2/18 3,050 325 2/27 400 2/25 3,950 326 2/28 900 Cash 2/26- 1,450 327 2/28 1,750 receipts: 2/28 $13,150 $7,450 Balance on February 1 Receipts Disbursements Balance on February 28 Amount $6,650 13,150 (7,450) $12,350 Information from February's bank statement and company records reveals the following additional information: a. The ending cash balance recorded in the bank statement is $11,685. b. Cash receipts of $1,450 from 2/26-2/28 are outstanding. c. Checks 325 and 327 are outstanding. d. The deposit on 2/11 includes a customer's check for $400 that did not clear the bank (NSF check). e. Check 323 was written for $2,800 for advertising in February. The bank properly recorded the check for this amount. f. An EFT withdrawal for Reynolds's February rent was made on February 4 for $1,100. g. Debit card transactions include $4,780 for legal fees expense and $400 for entertainment expense. h. In January, one of Reynolds's suppliers, Titanic Fabrics, borrowed $5,700 from Reynolds. On February 24, Titanic paid $5,950 ($5,700 borrowed amount plus $250 interest) directly to Academy Bank in payment for January's borrowing. i. Academy Bank charged service fees of $185 to Reynolds's for the month. Required: 1. Prepare a bank reconciliation for Reynolds's checking account on February 28, 2024. 2. Record the necessary cash adjustments. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a bank reconciliation for Reynolds's checking account on February 28, 2024. (Amounts to be deducted should be indicated with a minus sign.) REYNOLDS'S RED CARPET STORE Bank Reconciliation February 28, 2024 Bank's Cash Balance Company's Cash Balance Per bank statement $ 11,685 Per general ledger $ 12,350 Deposits outstanding 1 Company error Checks outstanding EFT for rent Bank balance per reconciliation < Required 1 Interest on note Note collected NSF check (400) Service fees (185) Debit card for legal fees Debit card for entertainment (400) Company balance per reconciliation Required 2 >