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Please solve the following: Belbin's Grocery Store developed the following information in recording its bank statement for the month of March, 2008. Balance per books
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Belbin's Grocery Store developed the following information in recording its bank statement for the month of March, 2008. Balance per books March 31 $ 1,905 Balance per bank statement March 31 $11,400 (1) Cheques written in March but still outstanding $8,000. (2) Cheques written in February but still outstanding $2,800. (3) Deposits of March 30 and 31 not yet recorded by bank $5,200. (4) NSF cheque of customer returned by bank $700. (5) Cheque No. 210 for $594 was correctly issued and paid by bank but incorrectly entered in the general journal as payment on account for $549. (6) Bank service charge for March was $50. (7) A payment on account was incorrectly entered in the general journal and posted to the accounts payable subsidiary ledger for $824 when Cheque No. 318 was correctly prepared for $284. The cheque cleared the bank in March. (8) A review of the bank statement revealed Belbin's Grocery received electronic payments from customers on account of $4,150 during March. Instructions Prepare a bank reconciliation at March 31, 2008Step by Step Solution
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