Question: Question 1 (18 marks) Using the information provided below for Welcome Inc.: Balance per bank statement is $21,200.68. Balance per books is $20,559.40. The December

Question 1 (18 marks) Using the information provided below for Welcome

Question 1 (18 marks) Using the information provided below for Welcome Inc.: Balance per bank statement is $21,200.68. Balance per books is $20,559.40. The December bank statement indicated a service charge of $35. Cheque #1169 for $410.50 and cheque #1183 for $2,150.00 were written but not returned with the bank statement. The bank had not received a deposit in transit of $3,443.22 when the bank statement was generated. A bank debit memo indicated an NSF cheque written by Bill Broke to Welcome Inc. on December 11, 2020, for $169. A bank credit memo indicated a bank collection of $1,700 on outstanding note and interest revenue of $28 on December 15, 2020. Requirements A) Prepare a bank reconciliation dated December 31, 2020. B) Prepare necessary journal entries for adjustments provided. Explanations and dates are not required

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