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Santana Rey receives the March bank statement for Business Solutions on April 1 1 , 2 0 2 2 . The March 3 1 bank
Santana Rey receives the March bank statement for Business Solutions on April The March bank statement shows an ending cash balance of $ The general ledger Cash account, Number shows an ending cash balance per books of $ as of March prior to any reconciliation A comparison of the bank statement with the general ledger Cash account, Number reveals the following.
The bank erroneously cleared a $ check against the company account in March that S Rey did not issue. The check was actually issued by Business Systems.
On March the bank statement lists a $ charge for a safety deposit box. Santana has not yet recorded this expense.
On March the bank statement lists a $ charge for printed checks that Business Solutions ordered from the bank. Santana has not yet recorded this expense.
On March the bank statement lists $ interest earned on Business Solutionss checking account for the month of March. Santana has not yet recorded this revenue.
S Rey notices that the check she issued for $ on March has not yet cleared the bank.
S Rey verifies that all deposits made in March do appear on the March bank statement.
Required:
Prepare a bank reconciliation for Business Solutions for the month ended March As a table.
Prepare any necessary entries. Use Miscellaneous Expenses, for any bank charges. Use Interest Revenue, for any interest earned on the checking account for March.
Note: If no entry is required for a transactionevent select No journal entry required" in the first account field.
Journal Entries:
Record journal entry related to the $ check charged erroneously to Business Solutions' account, if required.
Record the journal entry related to the $ debit memorandum, if required.
Record the journal entry related to the $ debit memorandum for printed checks, if required.
Record the journal entry for the $ interest earned, if required.
S Rey verifies that all deposits made in March do appear on the March bank statement, if required.
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