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Help Save & Exit On March 31, 2019, Home Decorating Pavilion received a bank statement showing a balance of $9,840. The balance in the firm's
Help Save & Exit On March 31, 2019, Home Decorating Pavilion received a bank statement showing a balance of $9,840. The balance in the firm's checkbook and Cash account on the same date was $10.745. The difference between the two balances is caused by the items listed below. a. A $3.260 deposit made on March 30 does not appear on the bank statement. b. Check 358 for $560 issued on March 29 and Check 359 for $1.480 issued on March 30 have not yet been paid by the bank C. A credit memorandum shows that the bank has collected a $1,300 note receivable and interest of $130 for the firm. d. A service charge of $40 appears on the bank statement. e. A debit memorandum shows an NSF check for $525. (The check was issued by Dane Jaris, a credit customer.) f. The firm's records indicate that Check 341 of March 1 was issued for $890 to pay the month's rent. However, the canceled check and the listing on the bank statement show that the actual amount of the check was $880. g. The bank made an error by deducting a check for $560 issued by another business from the balance of Home Decorating Pavilion's account. Required: 1. Prepare a bank reconciliation statement for the firm as of March 31, 2019 2. Record entries for any items on the bank reconciliation statement that must be journalized March 31, 2019 $ Balance on bank statement Additions: 9,840 $ 3,260 Deposit of March 30 in transit Check incorrectly charged to account 3,260 13,100 Deductions for outstanding checks: Check 358 of March 29 Check 359 of March 30 | $ 560 1,480 $ $ 2,040 11,060 10,745 Total outstanding checks Adjusted bank balance Balance in books ance in books Additions: S Note receivable and interest collected by bank Correction of error recording check 341 10,745 Deductions: NSF check Bank service charge JULLIUI Ilst Journal entry worksheet
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