Stewart Recording Studio, owned by Ron Stewart, showed the following bank reconciliation at March 31: $31,545 Stewart Recording Studio Bank Reconciliation March 31, 2020 Bank statement balance $22,600 Book balance Add: Deposit of March 31 in transit 10,225 $32,825 Deduct: Outstanding cheques : #14 $855 #22 325 1,180 Adjusted bank balance $31,645 Adjusted book balance $31,645 Cash Fixplanation PR Debit Credit Acet. No. 101 Balance Date 2020 March April Balance 31 30 30 CR17 73,050 CD13 31,645 204,695 9,383 95,312 A list of deposits made and cheques written during April, taken from the Cash Receipts Journal and Cash Disbursements Journa shown below: Deposito Made April 13 18 23 27 30 Total April Cash Receipt $ 705 4,700 6,030 16.205 1,790 45.620 $73,050 Juu 705 Deposits Made April 7 13 10 23 27 30 Total April Cash Receipta $ 4,700 6,030 16,205 1,790 45,620 $73,050 Cheques written No. 23 24 25 26 27 $ 5,315 3,220 960 325 4.435 4.900 20,570 03.200 432 11.933 $95,312 29 30 31 32 Total April Cash Disbursementa Seved Help 27 28 29 30 31 32 Total April Cash Disbursements 24 4,435 4.900 20.570 43,200 432 11,955 $95,312 The following bank statement is available for April Bank Statement TO Stewart Recording Studio Cheques/Charges Deposita/Credits 731 04/03 228 04/07 426 06/13 NS 04/18 724 04/23 423 04/27 #29 04/30 PAT 04/30 INT 04/30 SC 04/30 SSENot Sutficient Fundo 432 9.400 325 14.885 3.220 5,315 20.570 16,660 590 185 SC Service Charge 04/03 04/07 04/13 04/18 04/23 04/27 04/30 10.225 705 4,700 6,030 24,205 1.790 125.000 April 30, 2020 Bank of Canada Balance 22,500 32,393 23.698 28,073 19.218 30,203 26,678 131, 208 114.448 113,758 113.573 INT Interest on Bank Loan - Payment of Principal the 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. AN SC 04/30 NSP - Not Sufficient Funds 185 SC - Service Charge PMT Payment of Principal on the loan 113.573 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) Required: a. Prepare a bank reconciliation for Stewart Recording Studio at April 30, STEWART RECORDING STUDIO Bank Reconciliation April 30, 2020 Bank Statement Company's Books Bank statement balance Add: Book balance Add: a. Prepare a bank reconciliation for Stewart Recording Studio at April 30. STEWART RECORDING STUDIO Bank Reconciliation April 30, 2020 Bank Statement Company's Books Bank statement balance Add: Book balance Add: Deduct: Deduct: Outstanding cheques: Adjusted bank balance Adjusted book balance View transaction list Journal entry worksheet 1 2. 3 5 Record to reinstate customer account. teota: Enter debits before credits General Journal Debit Credit Date Apr 30 View general journal Clear entry Record entry