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John and Michael are partners in a small business, and they have been asked to reconcile their company's bank account for the month of January.

John and Michael are partners in a small business, and they have been asked to reconcile their company's bank account for the month of January. They have obtained a copy of the bank statement for the month, which shows the following information:

A starting balance of $10,000 on January 1st

A deposit of $5,000 on January 3rd

A check written to a supplier for $3,000 on January 5th

A withdrawal of $2,000 made by John on January 7th for personal use

A service charge of $50 on January 10th

A deposit of $6,000 made on January 15th

A check written to a creditor for $1,500 on January 20th

A withdrawal of $1,000 made by Michael on January 25th for personal use

A closing balance of $10,500 on January 31st

John and Michael have also reviewed their own records of transactions for the month of January and have identified the following information:

A deposit of $4,500 made on January 2nd

A check written to a supplier for $2,500 on January 4th

A deposit of $7,000 made on January 12th

A check written to a creditor for $2,000 on January 22nd

A deposit of $3,000 made on January 28th

Based on the above information, please answer the following questions:

What is the total amount of deposits shown on the bank statement for the month of January?

What is the total amount of withdrawals shown on the bank statement for the month of January?

What is the total amount of checks written as per the partner's records for the month of January?

What is the total amount of deposits as per the partner's records for the month of January?

Are there any discrepancies or errors between the bank statement and the partners' records for the month of January? If so, please identify them and explain how they could be resolved.

Calculate the final reconciled balance as of January 31st as per the partner's records.

Are the partner's personal withdrawal should be recorded in the partnership books? How it should be treated in the bank reconciliation?

How the service charge of $50 should be treated in the bank reconciliation?

Please explain your calculation and reasoning for each of the above questions in detail to complete the bank reconciliation of partner in accounting.

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