Question 7 (16 marks) Bamby's Grocery Store developed the following information for the month of March, 2021: Balance per books March 31 $ 1,905 Balance per bank statement March 31 $11,400 1. NSF cheque of customer Thumper Rabbit Inc. returned by bank $700. 2. Cheques written in March but still outstanding $8,000. 3. Bank service charge for March was $50. 4. Cheques written in February but still outstanding $2,800. 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. Deposits of March 30 and 31 not yet recorded by bank $5,200. 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 Bamby's Grocery received electronic payments from customers on account of $4,150 during March. REQUIRED: (Answer on the next page) 1. Prepare a bank reconciliation at March 31, 2021 for Bamby's Grocery. (9 marks) 2. Prepare the necessary journal entries resulting from the bank reconciliation. (7 marks)