Reference no: EM132617073
Question - Reebles Food Store developed the following information in recording its bank statement for the month of March.
Balance per books March 31 $ 2,905
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 $2,800.
(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 $594 was correctly issued and paid by bank but incorrectly entered in the cash payments journal as payment on account for $549.
(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 $150 interest revenue.
Required - Prepare bank reconciliation at March 31.
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