Please don't give image based answer.. thanku Bill Jovi is reviewing the cash accounting for Whispering, Inc., a local mailing service. Jovi's review will focus on the petty cash accountand the bank reconciliation for the month ended May 31, 2025. He has collected the following information from Whispering'sbookkeeper for this task.Petty Cash1. The petty cash fund was established on May 10, 2025, in the amount of $277.50.2. Expenditures from the fund by the custodian as of May 31, 2025, were evidenced by approved receipts for the following.Postage expenseMailing labels and other suppliesL.O.U. from employeesShipping charges (to customer)Newspaper advertisingMiscellaneous expense$36.6372.15Whispering's Cash AccountBalance, May 1, 2025Deposits during May 2025Checks written during May 202533.3063.7725.3117.04On May 31, 2025, the petty cash fund was replenished and increased to $333.00; currency and coin in the fund at that time totaled$29.30.THIRD NATIONAL BANKBANK STATEMENTBalance, May 1, 2025DepositsNote payment direct from customer (interest of $33.30)Checks cleared during MayBank service chargesBalance, May 31, 2025$9,823.5034,410.00(35,336.85)Disbursements Receipts$34,576.5029.97$31,080.001,032.30Balance$9,733.597,239.42Deposits in transit are determined to be $3,330.00, and checks outstanding at May 31 total $943.50. Cash on hand (besides pettycash) at May 31, 2025, is $273.06. Prepare a bank reconciliation dated May 31, 2025, proceeding to a correct cash balance, and prepare the journal entriesnecessary to make the books correct and complete. (Enter answers to 2 decimal places, e.g. 125.62. If no entry is required, select "NoEntry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Donot indent manually. List all debit entries before credit entries)1.Balances per BankAdd:2.Cash on HandDeposit in TransitLess VECorrect Cash BalanceBalance per BooksAdd:Correct Cash BalanceLess : Bank Service ChargesChecks OutstandingCashVNote RecievableNo. Account Titles and ExplanationNotes ReceivableInterest RevenueCashMay 31, 2025V(To record the collection of the note)(To record bank service charges)WHISPERING, INC.Bank reconciliation$273.063330NO OCORDebit3603.06943.501032.30Credit33.30

A bank reconciliation statement provides a summary of banking and commercial transactions. Business…

Bill Jovi is reviewing the cash accounting for Whispering, Inc., a local mailing service. Jovi's review will focus on the petty cash account and the bank reconciliation for the month ended May 31, 2025. He has collected the following information from Whispering's bookkeeper for this task. Petty Cash 1. The petty cash fund was established on May 10, 2025, in the amount of $277.50. 2. Expenditures from the fund by the custodian as of May 31, 2025, were evidenced by approved receipts for the following. Postage expense Mailing labels and other supplies LO.U. from employees Shipping charges (to customer) Newspaper advertising Miscellaneous expense $36.63 72.15 33.30 63.77 25.31 17.04 On May 31, 2025, the petty cash fund was replenished and increased to $333.00; currency and coin in the fund at that time totaled $29.30.