The following information is available to reconcile Stylo Company books balance of cash with its bank statement cash balance as of December 31, 2013:1. After posting is complete, the December 31 cash balance according to the accounting records is $31,743.70, and the bank statement cash balance for the date is $ 45,091.80.2. Check no. 1273 for $ 1084.20 and Check no. 1282 for $ 390, both written and entered in the accounting records in December, are not among the cancelled checks. Two checks, No. 1231 for $ 2289 and No. 1242 for $ 370.50, were outstanding on the most recent November 30 reconciliation. Check no. 1231 is listed with December cancelled checks, but check no. 1242 is not. 3. When December checks are compared with entries in accounting records, it is found that check no. 1267 had been correctly drawn for $ 2435 to pay for office supplies but was erroneously entered in accounting records as $ 2453. 4. Two debit memoranda are enclosed with the statement and are unrecorded at the time of reconciliation. One debit memorandum is for $749.50 and dealt with NSF check for $ 732 received from a customer, Shafiq Industries, in payment of its account. The bank assessed a $ 17.50 fee for processing it. The Second debit memorandum is a $ 79.00 for service charges for check printing. Stylo Company did not record these transactions before receiving the statement.5. A credit memorandum indicates that the bank collected $20,000 cash on a notes receivable for company, deducted a $ 20 collection fee, and credited the balance to the companys cash account. Stylo Company did not record this transaction before receiving the statement.6. Stylos December 31 daily cash receipts of $ 7,666.10 were placed in the banks night depository on that date, but do not appear on the December 31 bank statement.Required: 1.Prepare the bank reconciliation for this company as of December 31, 2013. 2. Prepare journal entries necessary to bring the companys book balance of cash into conformity with the reconciled cash balance as of December 31, 2013.