The bank statement for Ryerson Inc. had an ending cash balance of $2,500 on August 31, 2021. On this date the cash balance in their general ledger was $3,750. After comparing the bank statement with the company records, the following information was determined:

• On August 30, the bank deposited $60 for interest earned.
• Deposits in transit on August 31 totalled $3,410.
• The bank returned an NSF cheque in the amount of $600 that Ryerson Inc. deposited on August 20. The NSF service fee was $10 (charged to Ryerson).
• The bank withdrew $40 for bank service charges.
• A direct deposit received from a customer on August 30 in payment of their accounts totaling $2,750. This has not yet been recorded by the company.

REQUIRED

Part 1 - Perform a bank reconciliation to reconcile the bank and book cash balance

Part 2 - Journalize the entries for the company after the bank reconciliation