1. The deposit of $1,650 on May 13 is an electronic transfer from a customer in payment of its account. The amount includes $32 of interest, which Sik Company had not previously accrued.
2. The NSF for $540 is for a $525 cheque from a customer, J. Kumi, in payment of his account, plus a $15 processing fee. The company's policy is to pass on all NSF processing fees to the customer.
3. SC represents bank service charges for the month.
4. The bank made an error when processing cheque #564. The company also made two errors in the month. All cheques were written to pay accounts payable; all cash receipts were collections of accounts receivable.

4) Prepare bank reconciliation and related entries. 25 marks Sik COMPANY Bank Reconciliation April 30, 2023 Cash Balance per bank 90098469855 Less: Outstanding cheques \begin{tabular}{crr} #526 & 1358 & \\ #533 & 279 & \\ #541 & 363 & \\ #555 & 79 & 2079 \\ \hline Adjusted cash balance per bank & 7776 \end{tabular} The unadjusted cash balance at May 31 was $1,075. The May bank statement showed the following: Sik COMPANY Bank Statement May 31, 2023 \begin{tabular}{l} Date \\ Apr. 30 \\ \hline May 1 \\ \hline \end{tabular} The company's recorded cash payments and cash receipts for the month were as follows