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Prepare a bank reconciliation at march

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Question - Bell Food Store developed the following information in recording its bank statement for the month of March.

Balance per books March 31                                      $3,664

Balance per bank statement March 31                        $10,900

(1) Checks written in March but still outstanding $7,000.

(2) Checks written in February but still outstanding $2,100.

(3) Deposits of March 30 and 31 not yet recorded by bank $5,200.

(4) NSF check of customer returned by bank $1,200.

(5) Check No. 210 for $593 was correctly issued and paid by bank but incorrectly entered in the cash payments journal as payment on account for $539.

(6) Bank service charge for March was $50.

(7) A payment on account was incorrectly entered in the cash payments journal and posted to the accounts payable subsidiary ledger for $824 when Check No. 318 was correctly prepared for $284. The check cleared the bank in March.

(8) The bank collected a note receivable for the company for $4,000 plus $100 interest revenue.

Instructions - Prepare a bank reconciliation at March 31.

Reference no: EM131624820

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