On 20. def. On March 12. and as the banks Ja wide when the following 1. A 10.2001 chemical recorded by the 700 2 ore de Man 2021 March 2004 bar. These che ad 2.600.net wry 21 teto 3700 od on the war the for.70 was denicomcay by the companys 70. The was for payment Theron .2011 Bankadan chef 000 noon in wrong to the NEFT to the face on the base on with 30, 2001 The operwarowerowe Rewed 1. Prepare the action to row 01203 2. Preguntes that om te trek Chapter 7 (9 marks, 18 minutes) On February 28, 2021, Torrow Ltd. had a cash balance per books of $18,750. During March, Torrow recorded cash collections (deposits) of $17,320 and cash payments (cheques) of $19,825. The bank statement showed a balance of $20,310 on March 31. A review of the bank statement in conjunction with the company's cash account revealed the following: 1. A deposit of $2,700 into the bank account on March 10, 2021 was correctly recorded by the company, but incorrectly recorded by the bank as $3,700 2. The Torrow Ltd bookkeeper found three cheques that the company issued in March 2021 that did not appear on the March 31, 2021 bank statement. These three cheques totaled $2 600 In addition, one cheque listed as outstanding on the February 28, 2021 bank statement in the amount of $700, also did not appear on the March 31 bank statement 3. It was discovered that cheque #4163 for $6,370 was recorded incorrectly by the company as $6 730 The cheque was for payment of utilities The March 31, 2021 bank statement showed a returned (NSF) cheque of S900 from Cifer Ltd in addition the bank charged a $40 processing fee for the NSF cheque 5. An EFT deposit from Boulder Ltd of $400 appeared on the bank statement on March 30,2021. The bookkeeper was not aware of this until he saw the bank statement 4. 6. Bank service charges amounted to $55 for the month. Required 1 Prepare the bank reconciliation for Torrow Lid at March 31, 2021 (6 marks) 2. Prepare any adjusting journal entries that result from the bank reconciliation