Question 2 [30 points] The following information is for ABC Inc.: a. Balance per the bank statement dated March 31, 2014 is $39,300. b. Balance of the Cash account on the company books as of March 31, 2014 is $35,724. c. Bank deposit on March 31, 2014 for $950 does not appear on the bank statement. d. Included with the bank statement was a $45 credit memorandum for interest earned on the bank account during the month. e. Cheque #824, for office supplies in the amount of $791, was recorded in the Cash Disbursements Journal incorrectly as $197. f. Cheques written that had not cleared the bank by March 31, 2014 were: #844 : $1,150 #843 : $1,200 #850 : $900 #841 : $1,400 #840 : $1,000 g. Bank service charges for the month amount to $25. h. Included with the bank statement was an NSF cheque for $550 that had been received from a customer in payment of his account. Prepare a bank reconciliation statement as of March 31, 2014, as well as the necessary adjusting journal entries. Enter the transaction letter as the description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (.e., January 15 would be 15/Jan). ABC Inc. Bank Reconciliation March 31, 2014 Bank statement balance Book balance Add: Add: Velor Inc. Bank Reconciliation November 30, 2015 Book balance Add: Bank statement balance Add: Deduct: + Deduct: Outstanding cheques: + = Adjusted bank balance Adjusted book balance General Journal Account/Explanation Page GJ2 F Debit Credit Date + -1 Deduct: + = Deduct: Outstanding cheques: + = Adjusted bank balance Adjusted book balance General Journal Account/Explanation Page GJ2 F Debit Credit Date + - Official Time: 14:38:33 SUBMIT AND MARK SAVE AND CLOSE