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Required 1. Prepare the Bank Reconciliation for FSA. 2. Journalize the January 31 transactions needed to update FSA's Cash account. Include an explanation for each entry. 3. How do a bank account and a Bank Reconciliation help a manager control cash? Data for bank reconciliation a. FSA's Cash account shows a balance of $2,199.11 on January 31 . b. The January 31 bank balance is $4,021.05. c. The bank statement shows that FSA earned $38.79 of interest on its bank balance during January. This amount was added to FSA's bank balance. d. FSA pays utilities ($220) and insurance ($110) by EFT. e. The FSA cheques that did not clear the bank by January 31 are provided in the accompanying table. f. The bank statement includes a donation of $875, electronically deposited to the bank for FSA. g. The bank statement lists a $10.90 bank service charge. h. On January 31 , the FSA treasurer deposited $16.25, which will appear on the bank statement. i. The bank statement includes a \$294 deposit that FSA did not make. The bank added \$294 to FSA's account for another company's deposit. j. The bank statement includes two charges for returned cheques from donors. One is a $405 cheque received from a donor with the imprint "Unauthorized Signature." The other is a nonsufficient funds cheque in the amount of $147.17 received from a client. Requirement 2. Journalize the January 31 transactions needed to update FSA's Cash account. Include an explanation for each entry. \begin{tabular}{|c|c|c|c|} \hline Date & Account Titles & Debit & Credit \\ \hline \multicolumn{4}{|c|}{ January 31} \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Next, record the EFT payment of utilities. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) \begin{tabular}{c|c|c|c|c|} \hline Date & Account Titles & Debit & Credit \\ \hline January 31 & & & \\ & & & \\ & & & \\ & & & & \\ & & & & \\ & & & & \\ & & & & \\ & & & \end{tabular} In this step, record the EFT payment of insurance. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) \begin{tabular}{|c|c|c|c|} \hline Date & Account Titles & Debit & Credit \\ \hline \multicolumn{4}{|c|}{ January 31} \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{c|c|c|c|} \hline Date & Account Titles & Debit & Credit \\ \hline January 31 & & & \\ \cline { 2 - 4 } & & & \\ \cline { 2 - 4 } & & & \\ \cline { 2 - 4 } & & & \\ & & & \\ \cline { 2 - 4 } & & & \end{tabular} \begin{tabular}{c|c|c|c|} \hline Date & Account Titles & Debit & Credit \\ \hline January 31 & & & \\ \cline { 2 - 4 } & & & \\ & & & \\ \cline { 2 - 4 } & & & \\ \cline { 2 - 4 } & & & \\ \cline { 2 - 4 } & & & \\ \cline { 2 - 4 } & & & \end{tabular} then credits. Select the explanation on the last line of the journal entry table. Round your answers to the nearest cent.) \begin{tabular}{|c|c|c|c|} \hline Date & Account Titles & Debit & Credit \\ \hline \multicolumn{4}{|c|}{ January 31} \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Requirement 3. How do a bank account and a Bank Reconciliation help a manager control cash? How does a bank account help a manager control cash? Complete the following sentences. A bank account helps control cash by providing a safe place for The bank provides a detailed list of the company's that managers can compare to the company's own records and quic correct any errors. How does a Bank Reconciliation help a manager control cash? Complete the following sentences. The Bank Reconciliation helps ensure that the correctly accounts for its and that the bank and book records of cash are correct. The Bank Reconciliation establishes the balance of to report on the

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