Iverson Companys bank statement shows a cash balance of $830 at March 31, 2020. (This is

the unadjusted cash balance per bank records.) The companys records show a cash balance of

$390 at March 31, 2020. (This is the unadjusted cash balance per books at March 31, 2020.)

The Companys records reveal the following information for the month of March 2020.

1. Outstanding Deposits: $840 (This means that the company deposited $840, but this amount

has not yet been recorded by the bank and the deposit does not appear on the bank

statement.)

2. Outstanding checks: $390 (This means that the company paid out $390 in checks and these

checks have not yet cleared the bank and have not been recorded by the bank.)

3. Bank service charges for March: $30.

4. The bank collected a note receivable for the company for $1,200 plus $48 interest revenue.

5. Non-Sufficient Funds Checks (NSF): $328 (This means that customers paid Iverson by

check and the customers did not have enough cash in their accounts to pay for their checks.

In other words, the customers checks bounced.)

Instructions

Prepare Iversons bank reconciliation at March 31, 2020.