Prepare all of the necessary adjusting journal entries for the following transactions (from Mr. Mike's Dacne Studio September's Bank Reconciliation)

a. Cheque #919, returned with the cancelled cheques, was correctly written and drawn for $489 in payment of the phone bill and was paid by the bank on May 15. However, it had been recorded in the ledger with a debit to Phone Expense and a credit to Cash as though it were for $498. The correction was made on June 1st. (2 marks) Please include a journal explanation for this entry. DATE ACCOUNTS DEBIT CREDIT 2020 June 1 b. The month end Bank Statement indicated that cheque #963, from debtor K. Lima, for $300 bounced (it did not clear). A $50 service fee was changed to the business by the bank. Record the journal entry to reverse the entry when the cheque was received and also add in the service fee to the customer's account. The entry was made on June 1st. (2 marks) Please include a journal explanation for this entry. DATE ACCOUNTS DEBIT CREDIT 2020 June 1