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Stewart Recording Studio, owned by Ron Stewart, showed the following bank reconciliation at March 31 : A list of deposits made and cheques written duting
Stewart Recording Studio, owned by Ron Stewart, showed the following bank reconciliation at March 31 : A list of deposits made and cheques written duting Apri, taken from the Cash Receipts Journal and Cash Disbursements Journal, is shown below: The following bank statement is avallable for Apri: - In reviewing cheques returned by the bank, the bookkeeper discovered that cheque #28, for delivery expense, was recorded in the Cash Disbursements lournal correctly as $4.900. - The NSF cheque for $15,433 was that of customer Oprah Winney, deposited in March. - On the bank statement, the payment for $17,268 is regarding a note payable. - There is also a deposit of $129,000 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 Journali). Required: o. Prepare o bank reconciliation for Stewart Recording Studio ot April 30. b. Prepare the necessory journal entries to bring the General Ledger Cash occount into agreement with the adjusted balance on the benk reconciliation
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