\fAdditional information: 1. The bank statement contained three debit memoranda: - An NSF cheque of $595 that Yap had deposited was returned due to insufcient funds in the maker's bank account. This cheque was originally given to Yap by Mr. Jordan, a customer, in payment of his account. Yap believes it will be able to collect this amount from Mr. Jordan. o A bank loan payment (LN), which included $125 of interest and a $1,000 payment on the principal. (Hint: Use Notes Payable.) I A service charge (SC) of $49 for bank services provided throughout the month. 2. The bank statement contained one credit memorandum for $23 of interest (IN) earned on the account for the month. 3. The bank made an error prooessing cheque #3478. No other errors were made by the bank. Yap's unadjusted cash balance per its general ledger on March 31 is $8,495. Yap's list of cash receipts and cash payments showed the following for March: CPA#7 - Page 3 of 10 PRINT NAME SIGNATURE Cash Receipts Cash Payments Date ount Date - . ount Um- I: Q 1 001 Mar- 9 021-70 d: 1 .14)"; Cash Receipts Cash Payments Date Date Mar. 5 $ 1,221 Mar 3 1o 4 14 6 2o 7 25 13 31 14 Total 19 21 28 31 31 Total The bank portion of the previous month's bank reconciliation for Yap Co. at February 29, 2024, was as follows: YAP C0. Bank Reconciliation February 29, 2024 Cash balance per bank $ 12,742 Add: Deposits in transit 2,530 15,272 Less: Outstanding cheques #3451 $2,260 #3470 1,535 #3471 345 4,640 Adjusted cash balance $10,632 per bank Instructions a. Prepare a bank reconciliation at March 31. b. Prepare the necessary journal entries at March 31. (Note: The correction of any errors in the recording of cheques should be made to Accounts Payable. The correction of any errors in the recording of cash receipts should be made to Accounts Receivable.)