Shown below is the information needed to prepare a bank reconciliation for Warren Electric at December 31: 1. At December 31 , cash per the bank statement was $15,200; cash per the company's records was $17,500. 2. Two debit memoranda accompanied the bank statement: service charges for December of $25, and a $775 check drawn by Jane Jones marked "NSF." 3. Cash receipts of $10,000 on December 31 were not deposited until January 4 . 4. The following checks had been issued in December but were not included among the paid checks returned by the bank: no. 620 for $1,000, no. 630 for $3,000, and no. 641 for $4,500. a. Prepare a bank reconciliation at December 31. b. Prepare the necessary journal entry or entries to update the accounting records. c. Assume that the company normally is not required to pay a bank service charge if it maintains a minimum average daily balance of $1,000 throughout the month. If the company's average daily balance for December had been $8,000, why did it have to pay a $25 service charge