Stewart Recording Studio, owned by Ron Stewart, showed the following bank reconciliation at March 31: $31,365 Stewart Recording Studio Bank Reconciliation March 31, 2020 Bank statement balance $22,400 Book balance Add: Deposit of March 31 in transit 10, 135 $32,535 Deduct: Outstanding cheques : #14 $849 #22 321 1,170 Adjusted bank balance $31,365 Adjusted book balance $31, 365 Acct. No. 101 Balance Explanation PR Debit Credit Date 2020 March 31 April 30 Balance 30 72, 406 CR17 CD13 31, 365 103, 771 10, 115 93,656 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 699 April 7 13 18 23 27 30 $ 4,660 5,978 14, 083 1, 774 45, 212 $72, 406 Total April Cash Receipts Cheques Written No. 23 24 25 26 27 28 29 30 31 32 $ 5, 269 3,192 952 319 4,353 4,900 20,194 42, 320 424 11, 733 $93, 656 34 Total April Cash Disbursements The following bank statement is available for April: Bank Statement To: Stewart Recording Studio Cheques/Charges Deposits/credits #31 04/03 #28 04/07 #26 04/13 NSE 04/18 #24 04/23 #23 04/27 #29 04/30 PMT 04/30 INT 04/30 SC 04/30 NSE = Not Sufficient Funds 424 9,400 319 14, 611 3, 192 5, 269 20, 194 16, 356 594 181 SC = Service Charge 04/03 04/07 04/13 04/18 04/23 04/27 04/30 10, 135 699 4, 660 5,978 14,083 1, 774 123,000 April 30, 2020 Bank of Canada Balance 22,400 32,111 23, 410 27, 751 19, 118 30,009 26,514 129,320 112,964 112,370 112,189 INT = Interest on Bank Loan PMT Payment of Principal on 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. The NSF cheque for $14,611 was that of customer Oprah Winney, deposited in March. . On the bank statement, the payment for $16,356 is regarding a note payable. There is also a deposit of $123,000 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)