Question two: LO 4 (25 Marks) On 31" December 2020, the cash account of Philip Company showed a debit balance of $9,570. The bank balance showed a total of $13,200. A comparison with the bank statement revealed the following: 1) Deposits in transit totaling $4,470. ay Outstanding checks amounting to $6,430 3) Standing order representing $287 automatic payment for rent expense 4) Interest of $314 received on bank deposit 5) Bank charges of $23 6) the bank returned NSF (bounced) checks of $460 71 A note receivable of $1,463 was collected by the bank B) A check for the amount of $730 issued to the supplier was misreported in the cash payments journal as $1,393 Required: (A)-Prepare adjusted cash book & bank reconciliation. (13 marks) Paragraph Font family Font size BIUS X, X MacBook Air