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The bank statement for the checking account of Management Systems incorporated (MSf) showed a December 31, 2024, balance of $15,534,37. Information that might be useful in preparing a bank reconciliation is as follows: a. Outstanding checks were $1,411.60. b. The December 31,2024 , cash recelpts of $620 were not deposited in the bank unsil January 2,2025 c. One check written in payment of rent for $255 was correctly recorded by the bank but was recorded by MS1 as a $271 cisbursement. d. In accordance with prior authorization, the bank withdrew $540 directly from the checking account as payment on a note payable, The interest portion of that payment was \$395. MSi has made no entry to record the outomatic payment. e. Bank service charges of $23 were fisted on the bank statement. f. A deposit of $920 was recorded by the bank on December 13 , but it did not betong to MSt. The deposit should have been made to the checking account of Mis, Incorporated. 9. The bank statement included a charge of $7 for an NSF check. The check was returned with the bank stotement and the company witt seok poyment from the customet. h. MSt maintains a $290 petty cash fund that was appropriately reimbursed at the end of December. 1 According to instructons from MSI on December 30 , the bank withdrew $14,500 from the account and purchased U.S, Treasury bitis for MSt. MSt recorded the transaction in its books on December 31 when it recelved notice from the bank. Haif of the Treosury bilts mature in two months arid the other haif in six months. Required: 1. Prepare a bank reconcisiation for the MSt checking account at December 31, 2024, You will have to compute the baiance per books. 2. Prepare any necessary adjusting journat entries indicated. Use the miscelloneous expense account to record the bank service charges. 3. What amount woufd MST report as cash and cash equivalents in the curfent osset section of the Docember 31,2024, bafance sheet

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