You have started recording the transactions and events entered into by Economy Small Engine Repair in January 2017. Before you finish the accounting for January, you decided to prepare the bank reconciliation. You have gathered the following information to use in its preparation: Economy Small Engine Repair Ltd. Bank Reconciliation December 31, 2016 $16,100 Cash per books 600 $15,750 Cash per bank Add: Deposits in transit Less: Outstanding cheques #51 #71 Adjusted cash balance 350 600 950 $15,750 Adjusted cash balance $15,750 Economy Small Engine Repair Ltd. Bank Statement January 31, 2017 Description Debits Credits $350 $600 600 2,144 159 Date January 1 January 2 January 3 January 6 January 9 January 13 January 16 January 17 January 20 January 20 January 25 January 27 January 31 Balance $16,100 15,750 16,350 15,750 17,894 17,735 19,134 18,859 19,548 19,123 19,522 19,147 19,067 Cheque #51 Deposit Cheque #71 Deposit Cheque #82 Deposit Cheque #85 Deposit Cheque #83 EFT payment from customer Cheque #81 Service charges 1,399 275 689 425 399 375 80 Economy Small Engine Repair Ltd. Activity in Cash Account January 1 to 31, 2017 Description Debits Credits $750 $2,144 159 425 Date January 1 January 5 January 6 January 9 January 12 January 13 January 13 January 16 January 20 January 20 January 30 January 31 1,399 Cheque #81 Deposit Cheque #82 Cheque #83 Deposit Cheque #84 Cheque #85 Deposit Cheque #86 Cheque #87 Deposit Balance $15,750 15,000 17,144 16,985 16,560 17,959 17,334 17,059 17,748 16,458 15,858 18,508 625 275 689 1,290 600 2,650 You have determined that there are no errors in ESER's January 2017 accounting records. Tasks 1. You decided to prepare the bank reconciliation as at January 31, 2017. 2. After completing the bank reconciliation, you also decided to prepare any adjusting journal entries that are necessary as a result of the bank reconciliation process