ILI O P7-9A The March bank statement showed the following for Yap Co.: Prepa recon entrie YAP CO. Bank Statement March 31, 2017 Cheques and Other Debits Number Amount Date Deposits Feb. 28 Mar. 3 $2,530 1,221 3470 3471 3472 3473 NSF 3475 3477 3476 $1,535 845 1,427 275 595 487 915 1,828 1,745 Amount $12,742 13,737 12,892 12,686 12,411 11,816 13,074 12,159 12,614 14,446 12,116 13,693 12,568 10,889 10,863 2,283 1,832 2,657 3474 3478 LN 3480 SC 2,330 1,080 1,125 1,679 49 IN 23 Additional information: 1. The bank statement contained three debit memoranda: An NSF cheque of $595 that Yap had deposited was returned due to insufficient funds in the maker's bank account. This cheque was originally given to Yap by Mr. Jordan, a customer, in payment of his account. Yap believes it will be able to collect this amount from Mr. Jordan. A bank loan payment (LN), which included $125 of interest and a $1,000 payment on the principal. A service charge (SC) of $49 for bank services provided throughout the month. 4. The bank statement contained one credit memorandum for $23 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. Yap's unadjusted cash balance per its general ledger on March 31 is $8,495. Yap's list of cash receipts an eceipts and cash payments showed the following for March: Cash Receipts Cash Payments Date Amount Date Cheque No. Amount Mar. 5 $ 1,221 Mar. 3 3472 $ 1,427 1,745 nom 4 3473 abb725 2,283 und 6 3474 2,330 1,832 7 3475 487 2,675 13 3476 1,828 1,025 1423477 D E 915 Total $10,781 101 y 19 bis 3478 1,380TM 21 34792 sdt 159002 28 3480 1,679 1 botol oni d d b 313481 parlson 862bobre trana 31 3482 od 1,126 o b Total bewodor $12,918 The bank portion of the previous month's bank reconciliation for Yap Co. at February 28, 2017, was as follows: 1979 YAP CO. AM montube vi d Con Bank Reconciliation videos goFebruary 28, 2017 inolo2 CHANT Cash balance per banks 973613 920033d smo sto svizn5 $12.742 vsilods o W S Add: Deposits in transit TOD 2,530 o que no sawollotsd bowodziomsista 15,272 TAR- Less: Outstanding cheques t #3451 $2,260 bar on the #3470 roct 1,535 #3471 OTOM 845 14,640 Adjusted cash balance per bank idil dobr $10,632 Instructions (a) Prepare a bank reconciliation at March 31. (b) Prepare the necessary adjusting entries at March 31. (Note: The correction of any errors in the recording of es should be made to Accounts Payable. The correction of any errors in the recording of cash receipts should be made to Accounts Receivable.)
