PLEASE INCLUDE ALL CALCULATIONS AND SHOW STEPS

Information for Borg Ltd. is as follows: - Balance per books at November 30,$38,597.85; - Balance per books at December 31, $44,933.22; - December disbursements, \$160,693.54; - Balance per bank statement at December 31, \$51,211.60. The following cheques were outstanding at December 31: Cheque \#1224 - \$1,410.29 Cheque \#1232 - $3,400.16 Cheque \#1230 - \$2,243.29 Cheque \#1233 - \$257.17 Included with the December bank statement and not recorded by the company were: - A bank debit memo for $25.41 covering bank charges for the month, - A debit memo for $486.72 for a customer's cheque returned and marked NSF, - A credit memo for $1,175.00 representing bond interest collected by the bank in the name of Borg Ltd. None of the interest collected had been previously recorded. Cash on hand at December 31 that had been recorded and was not yet deposited amounted to $1,695.40. Instructions A. Prepare a bank reconciliation proceeding to the correct balance at December 31 for Borg Ltd. (16 marks) B. Prepare any journal entries that are needed to adjust the Cash account at December 31. (6 marks)