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On March 31, 2019, Home Decorating Pavilion received a bank statement showing a balance of $9,820. The balance in the firm's checkbook and Cash account
On March 31, 2019, Home Decorating Pavilion received a bank statement showing a balance of $9,820. The balance in the firm's checkbook and Cash account on the same date was $10,232. The difference between the two balances is caused by the items listed below. a. A $2,945 deposit made on March 30 does not appear on the bank statement. b. Check 358 for $520 issued on March 29 and Check 359 for $1,720 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 $32 appears on the bank statement. e. A debit memorandum shows an NSF check for $560. (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 $800 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 $750. g. The bank made an error by deducting a check for $595 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 Required 2 Required 1 Prepare a bank reconciliation statement for the firm as of March 31, 2019. (Enter all amounts as positive values.) HOME DECORATING PAVILION Bank Reconciliation Statement March 31, 2019 Balance on bank statement Additions: Deductions for outstanding checks: Total outstanding checks Adjusted bank balance Balance in books Additions: Deductions: Adjusted book balance Required 1 Required 2 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Record entries for any items on the bank reconciliation statement that must be journalized View transaction list Journal entry worksheet 1 2 3 4 A credit memorandum shows that the bank has collected a $1,300 note receivable and interest of $130 for the firm. Note: Enter debits before credits. Date General Journal Debit Credit Mar 31, 2019 Record entry View general journal Clear entry
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