Reebles Food Store developed the following information in recording its bank statement for the month of March.

Balance per books March 31 $ 3,622

Balance per bank statement March 31 $11,400

(1) Checks written in March but still outstanding $8,000.

(2) Checks written in February but still outstanding $3,200.

(3) Deposits of March 30 and 31 not yet recorded by bank $7,200.

(4) NSF check of customer returned by bank $700.

(5) Check No. 210 for $591 was correctly issued and paid by bank but incorrectly entered in the cash payments journal as payment on account for $519.

(6) Bank service charge for March was $50.

(7) A payment on account was incorrectly entered in the cash payments journal and posted to the accounts payable subsidiary ledger for $834 when Check No. 318 was correctly prepared for $384. The check cleared the bank in March.

(8) The bank collected a note receivable for the company for $4,000 plus $150 interest revenue.

Instructions

a) Prepare a bank reconciliation at March 31.

b) Prepare any adjusting entries necessary as a result of the bank reconciliation.