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Question 4: (12 marks) Green's Grocery Store developed the following information in recording its bank statement for the month of March 2022. Additional information: 1.
Question 4: (12 marks) Green's Grocery Store developed the following information in recording its bank statement for the month of March 2022. Additional information: 1. Cheques written in March but still outstanding $7,732. 2. Deposits of March 30 and 31 not yet recorded by bank $5,355. 3. NSF cheque of customer returned by bank $545. 4. Bank service charge for March was $50. 5. A payment on account was incorrectly entered in the general journal for $724 when Cheque No. 318 was correctly prepared for $274. The cheque cleared the bank in March. Required: a) Prepare a bank reconciliation at March 31, 2022. b) Prepare any adjusting entries necessary as a result of the bank reconciliation
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