PROBLEM I (20 pts)

The following information is available for Rosemary Corporation as of April 30, 2020:

a. Cash on the books as of April 30 amounted to $113,891. Cash balance on the bank statement on the same date was $141,717.

b. A deposit of $14,295, representing cash receipts of April 30, did not appear on the bank statement.

c. Outstanding checks totaled $7,293.

d. A check for $2,420 returned with the statement was journalized and posted in the books as $2,024. The check was written for payment of advertising expense.

e. The April bank statement show a bank service charge for $76.

f. A $36,400 note was collected by the bank for Rosemary Corporation on April 30.

g. The bank mistakenly deducted a check for $800 that was drawn by Fox Corporation.

h. An NSF check for $300from a customer, Ann Greeno, was returned with the bank statement.

REQUIRED:

1. Prepare the bank reconciliation for Rosemary Corporation as of April 30, 2020.

2. Prepare the necessary journal entries from the bank reconciliation.

3. State the amount of cash that should appear on Rosemary Corporations balance sheet as of April 30, 2020