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Champ's Pet Emporium prepares their bank reconciliations at month-end. Below, find the previous month's bank reconciliation (December 31, 2020) and the bank statement and general ledger cash account listing for the current month, January 31, 2021. Prepare a bank reconciliation for January and any required adjusting entries at the end of the month. Show your calculations! (11 marks) Bank Reconciliation - December 31, 2020 Champ's Pet Emporium Bank Reconciliation December 31, 2020 Bank statement balance $ 13,699 Book balance $ 16,216 Add: Deposit in transit 6,414 20,113 $ Deduct: Outstanding cheques: # 375 $ # 292 $ # 300 $ Adjusted bank balance 301 2,341 1,255 $ 3,897 16,216 Adjusted book balance $ 16,216 Bank Statement - January 31, 2021 Bank Statement - January 31, 2021 Bank Statement To: Champ's Pet Emporium January 31, 2021 TD Canada Trust Date Description Cheque Amount Deposits / Credits Balance Dec 31 Opening balance $ 13,699 Jan 1 300 S 1,255 $ $ 12,444 Jan 1 Deposit S $ 6,414 $ 18,858 Jan 5 302 294 $ $ 18,564 Jan 5 303 3,700 $ $ 14,864 Jan 7 375 301 $ $ 14,563 Jan 11 Deposit S 4,800 $ 19,363 Jan 14 305 2,959 $ $ 16,404 Jan 15 Deposit S 4,286 $ 20,690 Jan 18 Credit Memo S 204 $ 20,894 Jan 20 Deposit $ 4,146 $ 25,040 Jan 24 307 88 $ $ 24,952 $ $ 24,952 $ $ 24,952 $ $ 24,952 Jan 31 Service charge $ 30 $ 24,922 $ S $ $ S $ $ $ S $ $ $ Other information The Credit memo on Jan 18 relates to the bank collecting on an accounts receivable. The amount deposited is net of a $22 service charge. Champ's Pet Emporium's owner writes handwritten cheques periodically. The bookkeeper sometimes makes transposition or keying errors when entering the cheques relating to the Advertising expense. Champ's Pet Emporium's owner writes handwritten cheques periodically. The bookkeeper sometimes makes transposition or keying errors when entering the cheques relating to the Advertising expense. Cash General Ledger Account - January 31, 2021 Cash Acct. No. 101 Date PR Explanation Balance Debit Credit Balance Dec 31 Jan 1 $ Jan 3 302 GL21 303 GL21 304 GL21 305 GL21 $ 294 $ 3,700 $ 505 $ 2,995 $ Jan 4 Jan 4 $ $ $ $ $ $ 4,800 $ 4,286 $ $ 4,146 $ GL21 Jan 10 Jan 14 Jan 16 Deposit Deposit 16,216 15,922 12,222 11,717 8,722 13,522 17,808 17,029 21,175 21,087 20,435 27,303 $ GL21 306 GL22 GL22 779 $ Jan 19 Deposit Jan 21 88 $ Jan 26 307 GL22 308 GL22 GL22 $ 652 Jan 31 Deposit 6,868