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Problem 8-1 (Type your answer) The Cash general ledger account balance of Gladstone Ltd. was $2,531 at March 31,2022 . On this same date, the

image text in transcribedimage text in transcribed Problem 8-1 (Type your answer) The Cash general ledger account balance of Gladstone Ltd. was \$2,531 at March 31,2022 . On this same date, the bank statement had a balance of $1,500. The following discrepancies were noted: a. A deposit of \$1,245 made on March 30, 2022 was not yet recorded by the bank on the March statement. b. A customer's check amounting to $727 and deposited on March 15 was returned NSF with the bank statement. c. \$20 for March service charges were recorded on the bank statement but not in the company records. d. There were $621 of outstanding checks at March 31. e. The bank collected a note receivable for $300 on March 31 including interest of $50. The bank charged Gladstone Ltd. a \$10 service charge that also is not included in the company records. Required: Prepare a bank reconciliation and record all necessary adjusting entries at March 31, 2022. \begin{tabular}{|c|c|} \hline \multicolumn{2}{|c|}{ Company Section } \\ \hline Book Ending Balance & \\ \hline Increases & \\ \hline Note Collected by Bank (CM) & \\ \hline Interest on Note Collected by Bank (CM) & \\ \hline Bank Interest (CM) & \\ \hline Other Additions (CM) & \\ \hline Company Errors & \\ \hline Decreases & \\ \hline Fees on Note Collected by Bank (DM) & \\ \hline Bank Service Charge (DM) & \\ \hline NSF Check (DM) & \\ \hline Check Printing Charge (DM) & \\ \hline Other Deductions (DM) & \\ \hline Company Errors & \\ \hline Adjusted Book Ending Balance & \\ \hline \end{tabular}

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