Reference no: EM132350701

Question - Di Stefano Office Supply Company received a bank statement showing a balance of $67,655 as of March 31, 2019. The firm's records showed a book balance of $69,445 on March 31. The difference between the two balances was caused by the following items.

1. A debit memorandum for $43, which covers the bank's collection fee for the note (item 6).

2. A deposit in transit of $3,350.

3. A check for $241 issued by another firm that was mistakenly charged to Di Stefano's account.

4. A debit memorandum for an NSF check of $6,100 issued by Wozniak Construction Company, a credit customer.

5. Outstanding checks: Check 3782 for $1,850; Check 3840 for $144.

6. A credit memorandum for a $5,950 noninterest-bearing note receivable that the bank collected for the firm.

Prepare a bank reconciliation statement for the firm as of March 31.

Prepare the necessary journal entries for March 31, 2019 from the statement.