naining Time: 57 minutes, 19 seconds. estion Completion Status: On March 31, after all transactions have been recorded, the balance in the company's Cash account has a balance of $25,347. The company's bank statement shows a balance on March 31 of $28.120 A deposit in transit placed in the bank's night depository on March 31 totaled $2,820 and did not appear on the bank statement Outstanding checks at March 31 include check #303 in the amount of $1,525; check #355 in the amount of $1,369 and check #356 in the amount of $2,796. The bank cleared check #358 in the amount of $707. The company incorrectly recorded the check as $770. The check error was written to purchase supplies. The bank deducted $160 for an NSF check from a customer deposited on March 20. Require: Prepare a bank reconciliation as of March 31. List items in the same order and label as needed using the bold items as they appear above. If it is reducing the balance, enter them in (). For example, reducing the Bank by 1,000 will be entered as (1,000). Maxwell Company Bank Reconciliation March 31 Bank EEEEE ook Beg, Balance per Bank Beg. Balance per Books Adjusted Bank Balance Adjusted Book Balance 2) Prepare journal entries required by the bank reconciliation to bring the cash balance to the adjusted balance. Do the entry to increase cash first and the entry to decrease case second. If a cell is not used, enter a 0. Debits should go first, followed by credits. If more than one account is debited or credited, place them in alphabetical order. Date Accounting D RES CR 9/30 9/30 Bank Reconciliation The following information is available for the Maxwell Company for the month of March On March 31, after all transactions have been recorded the balance in the company's Cash account has a balance of $25,347 The company's bank statement shows a balance on March 31 of $28,120 Adeposit in transit placed in the bank's night depository on March 31 totaled $2 820 and did not appear on the bank statement Outstanding checks at March 31 include check #303 in the amount of $1,525, check #355 in the amount of $1,369 and check #356 in the amount of $2.796 The bank cleared check 6358 in the amount of 5707. The company incorrectly recorded the check as 5770. The check error was written to purchase supplies The bank deducted $160 for an NSF check from a customer deposited on March 20 Require: Prepare a bank reconciliation as of March 31. list items in the same order and label as needed using the bold items as they appear above. If it is reducing the balance, enter them in (). For example, reducing the Bank by 1.000 will be entered as (1.000). Maxwel Company Bank Reconciliation March 31 Beg. Balance per Bank Beg, Balance per Books Chek Save and Submit to use and submit. Click Save All Are to e alla Type here to search
