4.Zhang Company’s bank statement from Nguyen National Bank at August 31, 2015, shows the information below. Balance, August 1 $11,284 August deposits 47,521 Checks cleared in August 46,475 Balance, August 31 16,856 Bank credit memoranda: Collection of note receivable plus $105 interest$5,105 Interest earned 41 Bank debit memorandum: Safety deposit box rent 20 A summary of the Cash account in the ledger for August shows: balance, August 1, $10,959; receipts $50,050; disbursements $47,794; and balance, August 31, $13,215. Analysis reveals that the only reconciling items on the July 31 bank reconciliation were a deposit in transit for $3,200 and outstanding checks of $2,925. The deposit in transit was the first deposit recorded by the bank in August. In addition, you determine that there were two errors involving company checks drawn in August: (1) A check for $340 to a creditor on account that cleared the bank in August was journalized and posted for $430. (2) A salary check to an employee for $275 was recorded by the bank for $277. Instructions a) Prepare a bank reconciliation at August 31. b) Journalize the adjusting entries to be made by Zhang Company at August 31. Assume that interest on the note has not been accrued by the company.