Bank Statement March 31, 2021 Cheques and Other Debits Date Number Amount Deposits Amount Feb. 28 $12,710 Mar. 3 3470 $1,510 $2,510 13,710 4. 3471 830 12,880 6 3472 1,410 1,210 12,680 7 3473 375 12,305 10 NSF 561 11,744 11 3475 470 1,730 13,004 14 3477 910 12,094 17 3476 1,810 2,270 12,554 20 1,820 14,374 21 3474 2,320 12,054 26 3478 3,070 2,467 11,451 31 LN 1,150 10,301 31 3480 1,660 8,641 31 SC 49 IN 26 8,618 Additional information: 1. The bank statement contained three debit memoranda: An NSF cheque of $561 that Wildhorse had deposited was returned due to insufficient funds in the maker's bank account. This cheque was originally given to Wildhorse by Mr. Jordan, a customer, in payment of his account. Wildhorse believes it will be able to collect this amount from Mr. Jordan. A bank loan payment (LN), which included $150 of interest and a $1,000 payment on the principal. (Hint: Use Notes Payable.) A service charge (SC) of $49 for bank services provided throughout the month. 2. The bank statement contained one credit memorandum for $26 of interest (IN) earned on the account for the month. 3. The bank made an error processing cheque #3478. No other errors were made by the bank. Wildhorse's unadjusted cash balance per its general ledger on March 31 is $6,145. Wildhorse's list of cash receipts and cash payments showed the following for March: Cash Receipts Date Amount Mar. 5 $1,210 10 1,730 14 2,270 20 1,820 25 2,476 31 1,020 Total $10,526 Cash Payments Date Cheque No. Amount Mar. 3 3472 $1,410 4 3473 735 6 3474 2,320 7 3475 470 13 3476 1,810 14 3477 910 19 3478 3,570 21 3479 151 28 3480 1,660 31 3481 855 31 3482 1,120 Total $15,011 The bank portion of the previous month's bank reconciliation for Wildhorse Co. at February 28, 2021, was as follows: WILDHORSE CO. Bank Reconciliation February 28, 2021 Cash balance per bank $12,710 Add: Deposits in transit 2,510 15,220 Less: Outstanding cheques #3451 $2,250 #3470 1,510 #3471 830 4,590 Adjusted cash balance per bank $10,630 Prepare a bank reconciliation at March 31. (List items that increase balance as per bank & books first.) WILDHORSE CO. Bank Reconciliation March 31, 2021 $ LA Correction to cheque #3473 Loan payment - principal Bank error - cheque #3473 NSF cheque Mr. Jordan Cash balance per bank statement Service charge Loan payment - interest Bank error - cheque #3478 Deposits in transit Correction to cheque #3478 Adjusted cash balance per bank Interest revenue Outstanding cheques Correction in Mar. 26 cash receipts of Accounts Receivable