Shown below is the "Cash" account for XYZ Co., and also the monthly statement from their bank. Although they both show the same beginning balance, the General Ledger shows a different ending cash balance from the bank statement - a reconciliation is required. Required 1) Prepare a reconciliation of the book balance to the bank balance. 2) Prepare a journal entry to record any necessary changes (if any) to the ledger balance XYZ Co. General Ledger ABC Bank Bank Statement Cash Account acct. = XYZ Co. debit credit debit credit Opening balance 5,000 Opening balance 5,000 5/1 check # 213 125 5/3 check #213 125 5/2 deposit 1,200 5/4 check # 214 165 5/3 check #214 165 5/5 deposit 1,200 5/5 deposit 350 5/6 deposit 350 5/6 check #215 100 5/10 check #215 100 5/9 check #216 240 5/12 deposit 215 5/9 deposit 215 5/13 check #216 240 5/26 check # 218 30 5/15 check # 217 200 5/27 check # 220 360 5/15 check # 218 30 5/30 Bank fees 25 5/21 check #219 350 5/24 check # 220 360 5/29 deposit 50 Closing balance 5,720 Closing balance 5,245 The bank fees are charged by the bank to XYZ Co. every month and simply deducted straight from their bank account. Balance per Ledger Less; Unrecorded deductions (if any) Add: Unrecorded receipts (if any) Adjusted ledger balance Balance per Bank Statement Less; Outstanding checks (if any) Add: Deposits in transit (if any) Adjusted bank balance | Prepare a journal entry to record the bank fees (hint: debit to "Bank Fees Expense")