Stewart Recording Studio, owned by Ron Stewart, showed the following bank reconciliation at March 31: Stewart Recording Studio Bank Reconciliation March 31, 2023 Bank statement balance Add: Deposit of March 31 in transit Deduct: Outstanding cheques: #14 #22 Adjusted bank balance $22,600 Book balance 10,225 $32,825 $31,645 $855 325 1,180 $31,645 Adjusted book balance $31,645 Cash Acct. No. 101 Date Explanation PR Debit Credit Balance 2023 March 31 Balance April 30 30 CR17 73,050 CD13 31,645 104,695 95,312 9,383 A list of deposits made and cheques written during April, taken from the Cash Receipts Journal and Cash Disbursements Journal, is shown below: Deposits Made April 7 13 705 4,700 18 6,030 23 14,205 27 1,790 30 45,620 Total April Cash Receipts Cheques Written $73,050 No. 23 $ 5,315 24 3,220 25 960 26 325 27 4,435 28 4,900 29 20,570 30 43,200 432 31 32 11,955 Total April Cash Disbursements $95,312 To: Stewart Recording Studio Cheques/Charges Bank Statement April 30, 2023 Bank of Canada Deposits/Credits Balance 22,600 #31 04/03 #28 04/07 432 9,400 04/03 10,225 32,393 04/07 705 23,698 #26 04/13 325 04/13 4,700 28,073 NSF 04/18 14,885 04/18 6,030 19,218 #24 04/23 3,220 04/23 14,205 30,203 #23 04/27 5,315 04/27 1,790 26,678 #29 04/30 20,570 04/30 125,000 131,108 PMT 04/30 16,660 114,448 INT 04/30 SC 04/30 NSF = Not Sufficient 690 185 SC = Service 113,758 113,573 Funds Charge PMT Payment of Principal on the loan INT = Interest on Bank Loan In reviewing cheques returned by the bank, the bookkeeper discovered that cheque #28, for delivery expense, was recorded in the Cash Disbursements Journal correctly as $4,900. The NSF cheque for $14,885 was that of customer Oprah Winney, deposited in March. On the bank statement, the payment for $16,660 is regarding a note payable. There is also a deposit of $125,000 dated April 30. It is an investment made by the owner into the business (the bank transferred the funds electronically from the owner's personal account to his business account, which is why it was not recorded in the Cash Receipts Journal). a. Prepare a bank reconciliation for Stewart Recording Studio at April 30. Bank Statement Bank statement balance Add: Deduct: Outstanding cheques: STEWART RECORDING STUDIO Bank Reconciliation April 30, 2023 Company's Books Book balance Add: Deduct: Adjusted bank balance Adjusted book balance b. Prepare the necessary journal entries to bring the General Ledger Cash account into agreement with the adjusted balance on the bank reconciliation. View transaction list Journal entry worksheet < 1 3 4 5 Record to reinstate customer account. Note: Enter debits before credits. Date Apr 30 General Journal Debit Credit View general journal Record entry Clear entry > Journal entry worksheet < 1 3 4 5 Record the April bank service charges. Note: Enter debits before credits. Date Apr 30 General Journal Debit Credit View general journal Clear entry Record entry > 1 2 3 4 5 Record the April interest expense. Note: Enter debits before credits. Date Apr 30 General Journal Debit Credit View general journal Clear entry Record entry < 1 2 3 Record the April payment on note. Note: Enter debits before credits. Date Apr 30 5 General Journal Debit Credit > View general journal Clear entry Record entry < 1 2 3 4 Record the investment by owner. Note: Enter debits before credits. Date Apr 30 55 General Journal Debit Credit View general journal Clear entry Record entry