CP 73

The Cash general ledger account balance of Gladstone Ltd. was $2,531 at March 31, 2019. On this same date, the bank statement had a balance of $1,500. The following discrepancies were noted:

A deposit of $1,000 made on March 30, 2019 was not yet recorded by the bank on the March statement.

A customers check amounting to $700 and deposited on March 15 was returned NSF with the bank statement.

Check #4302 for office supplies expense, correctly made out for $125 and clearing the bank for this amount, was recorded in the company records as $152.

$20 for March service charges were recorded on the bank statement but not in the company records.

A cancelled check for $250 belonging to Global Corp. but charged by the bank to Gladstone Ltd. was included with the cancelled checks returned by the bank.

There were $622 of outstanding checks at March 31.

The bank collected a note receivable for $300 on March 31 including

interest of $50. The bank charged Gladstone Ltd. a $10 service charge that also is not included in the company records.

Required: Prepare a bank reconciliation and record all necessary adjusting entries at March 31, 2019.