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Di Stefano Office Supply Company received a bank statement showing a balance of $63,155 as of March 31, 20X1. The firm's records showed a book
Di Stefano Office Supply Company received a bank statement showing a balance of $63,155 as of March 31, 20X1. The firm's records showed a book balance of $69,505 on March 31. The difference between the two balances was caused by the following items. 1. A debit memorandum for $53, which covers the bank's collection fee for the note (item 6). 2. A deposit in transit of $3,850. 3. A check for $251 issued by another firm that was mistakenly charged to Di Stefano's account 4. A debit memorandum for an NSF check of $6,150 issued by Wozniak Construction Company, a credit customer, 5. Outstanding checks: Check 3782 for $2,350; Check 3840 for $154. 6. A credit memorandum for a $6,450 noninterest-bearing note receivable that the bank collected for the firm. Required: 1. Prepare a bank reconciliation statement for the firm as of March 31. 2. Prepare the necessary journal entries for March 31, 20X1 from the statement. Journal entry worksheet Check Total outstanding checks Adjusted bank balance 0 $ 72,256 Balance in books Additions: 0 Deductions: 0 Adjusted book balance lo $ Bank Rec General Journal > Drey 6 of 8 Next
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