The cash receipts and the cash payments of Ace Hardware for January $2020$ are as follows.

LOADING...$($Click the icon to view the$$ chequebook.$)$

The Cash account of Ace Hardware shows a balance of $ $39$ comma $478$ at January $31,2020.$ Ace Hardware received the following bank statement on January $31,2020.$

LOADING...$($Click the icon to view the January bank$$ statement.$)$

Additional data for the bank reconciliation follows.

LOADING...$($Click the icon to view the additional data for the bank$$ reconciliation.$)$

Required

$1.$

Prepare the Ace Hardware bank reconciliation at January $31,2020.$

$2.$

Describe how a bank account and the bank reconciliation help Ace $$Hardware$\text{'}$s owner control the$$ business's cash.

$3.$

How would you handle items that were outstanding$($bank side$)$ from the previous$$ month's bank$$ reconciliation?