From the May 31, 2020, bank statement: Balance of statement on A 10/20 deposits and other credits totalling cheques and other debits totaling Current balance of this statement 16104595 26.000 57005 AD 10.1285 Transaction Description Date Depos Amount 14.662 30 849 25 15.600.40 1.166.45 May on 14 18 22 Service charge Chequing Account Transactions Transaction Description Date Amount Deposit May 25 5,200.00 Deposit 26 4.210.10 -NSF cheque 31 135.00 Deposit Amount Date Cheque No. 7.600 00 May 26 1785 1.465.80 28 1771 2,334.75 29 1788 12.800.55 Date Cheque No. 1784 1783 May 01 02 15 16 Amour 62015 15.463.10 98565 1787 1782 From Yardworx's accounting records: Cash Debit Acct. No. 101 Balance Date Explanation PR Credit 30 Balance 2020 Apr May 31 31 CR7 29,289.05 44.627.20 73.916 25 45,826.75 CDB 28,089.50 Deposits Made Cheques Written May $14.662.30 No. 1782 14 849.25 1783 22 1784 26 1,166,45 4,210.10 8,400.95 1785 31 1786 Total May Cash Receipts $29.289.05 1787 1788 1789 Total May Cash Disbursements.. $220950 Cheque #1788 was correctly written for $985.65 to pay for May utilities, however, the bookkeeper misread the amount and entered it in the accounting records with a debit to Utilities Expense anda The credit memo resulted from a $5,300 electronic fund transfer for the collection of a customer payment. The bank had deducted a $100 bank service charge fee. The collection has not been recorded CHAPTER 7 credit to Cash as The NSF cheque was return was unrecorded. though it were for $895.65. The bank paid and deducted the correctament originally received from a customer, Gertie Mayer, in payment of her account. Its in the company's books. Required 1. Prepare a bank reconciliation for Yardworx. 2. Prepare the general journal entries needed to adjust the book balance of Cash to the reconciled balance. Analysis Component: The preceding bank statement discloses two places where the cancelled cheques re- turned with the bank statement are not numbered sequentially. In other words, some of the prenumbered cheques in the sequence are missing. Several possible situations would explain why the cancelled cheques returned with a bank statement might not be numbered sequentially. Describe three possible reasons that this might occur. Prohlam on