Street Cellular Company recently received its bank statement for the month a February, 2012 from Mona Commercial Bank. The book balance as stated in the cash account differs from the balance that appears on the bank statement. A comparison of the bank statement with the cash account revealed the following i) 11) 4) ″] 가 vil The ledger account for Cash showed a balance at February 28 of $29,250 The February bank statement showed a closing balance of $54,600. The bank statement included bank charges of $300. There was an EFT deposit of $18,000 on the bank statement for the monthly rent due from a tenant. Examination of the paid cheques revealed that cheques #541 and #543 for $2,050 and $4,200, respectively, were not amongst the cancelled cheques returned with the statement. During the evening of February 28, a deposit of $38,000 was placed in the night deposit box at the bank after closing hours; this is not shown on the bank statement. Comparison of the paid cheques returned by the bank with the entries in the accounting records revealed that cheque # 532 written for the amount of $5,000 had been erroneously entered by bookkeeper of Street Cellular Company as $50,000. The cheque was written to a vendor to pay off an account payable. viiij Included with the cancelled cheques was a cheque issued by the Smart Cellular Company to S. Thomas for $2,000 that was incorrectly charged to Street Cellular Company's account by the bank. ix Included with the February statement was a $3,600 cheque drawn by D. Blair, a customer of Street Cellular Company. This cheque was marked "NSF." It had been included in the deposit of February 25 but had been charged back against the company's account on February 28. Required: (1) Prepare a bank reconciliation statement for Street Cellular Company at February 28, 2012. (b) (c) Prepare the adjusting journal entries that would be necessary after preparing the bank reconciliation statement for Street Cellular Company at February 28, 2012. State and explain three reasons why the cash balance as per the bank statement is often different from the cash book balance in a business accounting records.