The cash receipts and the cash disbursements of Mobil Resources for March 19X5 appear as follows:

The Cash account of Mobil Resources shows the following information on March 31, 19X5:

On March 31, 19X5, Mobil Resources received the bank statement at the top of page 314.
Additional data for the bank reconciliation include:

a. The EFT deposit was a receipt of monthly rent. The EFT debit was payment of monthly insurance.

b. The NSF check was received late in February from Jay Andrews.

c. The \(\$ 1,000\) bank collection of a note receivable on March 31 included \(\$ 122\) interest revenue.

d. The correct amount of check number 1419 , a payment on account, is \(\$ 4,216\). (The Mobil Resources accountant mistakenly recorded the check for \(\$ 4,126\).)

\section*{Required}
1. Prepare the bank reconciliation of Mobil Resources at March 31, 19X5.
2. Record the entries based on the bank reconciliation. Include explanations.

Transcribed Image Text:

Cash Receipts (Posting reference is CR) Date Cash Debit Check No. Mar. 4 $2,716 1413 9 544 1414 11 1,655 1415 Cash Disbursements (Posting reference is CD) Cash Credit $ 1,465 1,004 450 14 896 1416 8 17 367 1417 775 25 890 1418 88 31 2,038 1419 4,126 Total $9,106 1420 970 1421 200 1422 2,267 Total $11,353