On August 31, 20x1, the balance in the checkbook and the Cash account of the Dry Creek Bed and Breakfast was $12,209. The balance shown on the bank statement on the same date was $13,157. Notes a. The firm's records indicate that a $1,370 deposit dated August 30 and a $693 deposit dated August 31 do not appear on the bank statement b. A service charge of $8 and a debit memorandum of $280 covering an NSF check have not yet been entered in the firm's records (The check was issued by Art Corts, a credit customer.) c. The following checks were issued but have not yet been paid by the bank Check 712, $102 Check 713 5117 Check 716, $230 Check 736, $569 Check 739 $70 Check 741, $112 d. A credit memorandum shows that the bank collected a $2,044 note receivable and interest of $55 for the firm These amounts have not yet been entered in the firm's records. Required: 1. Prepare a bank reconciliation statement for the firm as of August 31, 2. Record general journal entries for items on the bank reconciliation statement that must be journalized Analyze: What effect did the journal entries recorded as a result of the bank reconciliation have on the fundamental accounting equation