To confirm your thoughts, Frog Lady, because the C-store is exempt, for CTR purposes you ignore the deposit to the C-store account and only look at the other transaction. Since it doesn't trigger a CTR filing, you don't file.
If you start to see a pattern of transactions like the two that prompted this discussion, you should consider ditching the exemption so that you'll be filing on the owner's cash deposits, too. And continue your monitoring for suspect activity.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8