Zoom Ltd has Cash at Bank balance as per the company's record of $ 5,870 debit on 31stJuly 2019. The bank statement balance from Commonwealth Bank showed a credit balance of $4,300. You discovered the following, while attempting to reconcile the two records:

1.$1,100 cheque presented to Commonwealth Bank by Zohra Ltd was incorrectly debited to the bank account of Zoom Ltd by Commonwealth Bank in the bank statement.

2.The bank statement showed a debit entry of $120 for bank fees.

3.Included on the bank statement was a credit entry of $950 for the collection of note receivable for Zoom Ltd by Commonwealth Bank.

4.Unpresented cheques amounted to $3,200, and outstanding deposits were $4,500 at 31stJuly.

Required

a.Prepare a bank reconciliation at 31stJuly 2019 based on the provided information. (4 marks)

b.Prepare the necessary adjusting entries as at 31stJuly 2019. (2 marks)