2 (25 marks) Peter operates a restaurant called Pancake Company ("Pancake"). He just received the monthly bank statement of April 2022 from the bank. The bank statement shows an opening balance of $100,120 and an ending balance of $98,000. Additional information: (1) (2) EFT receipts of interest revenue earned on account balance, $1,960. Pancake set up an automatic EFT through the bank for paying electricity expense. A total of $5,300 was paid in April through this payment service. This payment was for two months' expenses, $2,300 was for the accrued electricity expense of March and $3,000 was for April's electricity expense. NSF cheque from a customer, $94,700. (3) Bank service charge was $250. (4) (5) (6) (7) (8) (9) Pancake deposited a cheque of $21,200 drawn by the customer but could not find it on the bank statement. Pancake issued a cheque, Cheque No. 329, to a supplier. Due to recent delayed mail service, supplier had not yet received the cheque, total $6,700. A cheque of $10,400 for insurance expense was recorded as $18,400 in the book. A cheques was issued on 21 April 2022, total $3,330, was paid by the bank on 29 April 2022. Pancake's cash account shows an opening balance of $100,120 on 1 April 2022 and an ending balance of $202,790 on 30 April 2022. Required: (a) Prepare a bank reconciliation statement for Pancake Company as at 30 April 2022. (b) (c) (10 marks) Prepare journal entries to update the cash account of Pancake Company. Narration is NOT required. (11 marks) Peter suspected that the ending balance on the bank statement was wrong. He also wondered how much cash Pancake Company actually had. Explain to Peter regarding his query about the ending balance on the bank statement and how he can find out the correct cash balance. (4 marks)