The bank statement for Unique Fashion had an ending cash balance of $1,700 on March 31, 2019. On this date the cash balance in their general ledger was $2,891. After comparing the bank statement with the company records, the following information was determined. The bank returned an NSF cheque in the amount of $350 that Unique Fashion deposited on March 20. The NSF service fee was $8. A direct deposit received from a customer on March 30 in payment of their accounts totaling $3,710. This has not yet been recorded by the company. On March 30, the bank deposited $16 for interest earned. The bank withdrew $29 for bank service charges. Deposits in transit on March 31 totalled $4,530. Reconcile the ledger and bank statement. Prepare the required journal entries

AnswerMarch 31, 2019Unique FashionBank Reconciliation
AnswerMarch 31, 2019Unique FashionBank Reconciliation
AnswerMarch 31, 2019Unique FashionBank Reconciliation
Cash balance per bank statement		Answer	Cash balance per books		Answer
Add			Add
Outstanding deposit		Answer	EFT deposit	Answer
			Interest earned	Answer	Answer
			Deduct
			NSF cheque	Answer
			NSF service charge	Answer
			Bank service charge	Answer	Answer
Adjusted bank balance		Answer	Adjusted book balance		Answer

Date	Account Title and Explanation	Debit	Credit
2019
Mar 31	AnswerAccounts PayableAccounts ReceivableBank Charges ExpenseCashCost of Goods SoldEquipmentInsurance ExpenseInterest ExpenseInterest PayableInterest RevenueSalaries ExpenseSales RevenueUnearned Revenue	Answer
	AnswerAccounts PayableAccounts ReceivableBank Charges ExpenseCashCost of Goods SoldEquipmentInsurance ExpenseInterest ExpenseInterest PayableInterest RevenueSalaries ExpenseSales RevenueUnearned Revenue		Answer
	Collect outstanding accounts receivable
Mar 31	AnswerAccounts PayableAccounts ReceivableBank Charges ExpenseCashCost of Goods SoldEquipmentInsurance ExpenseInterest ExpenseInterest PayableInterest RevenueSalaries ExpenseSales RevenueUnearned Revenue	Answer
	AnswerAccounts PayableAccounts ReceivableBank Charges ExpenseCashCost of Goods SoldEquipmentInsurance ExpenseInterest ExpenseInterest PayableInterest RevenueSalaries ExpenseSales RevenueUnearned Revenue		Answer
	Record interest earned
Mar 31	AnswerAccounts PayableAccounts ReceivableBank Charges ExpenseCashCost of Goods SoldEquipmentInsurance ExpenseInterest ExpenseInterest PayableInterest RevenueSalaries ExpenseSales RevenueUnearned Revenue	Answer
	AnswerAccounts PayableAccounts ReceivableBank Charges ExpenseCashCost of Goods SoldEquipmentInsurance ExpenseInterest ExpenseInterest PayableInterest RevenueSalaries ExpenseSales RevenueUnearned Revenue		Answer
	Record NSF Cheque
Mar 31	AnswerAccounts PayableAccounts ReceivableBank Charges ExpenseCashCost of Goods SoldEquipmentInsurance ExpenseInterest ExpenseInterest PayableInterest RevenueSalaries ExpenseSales RevenueUnearned Revenue	Answer
	AnswerAccounts PayableAccounts ReceivableBank Charges ExpenseCashCost of Goods SoldEquipmentInsurance ExpenseInterest ExpenseInterest PayableInterest RevenueSalaries ExpenseSales RevenueUnearned Revenue		Answer
	Record bank charges
Mar 31	AnswerAccounts PayableAccounts ReceivableBank Charges ExpenseCashCost of Goods SoldEquipmentInsurance ExpenseInterest ExpenseInterest PayableInterest RevenueSalaries ExpenseSales RevenueUnearned Revenue	Answer
	AnswerAccounts PayableAccounts ReceivableBank Charges ExpenseCashCost of Goods SoldEquipmentInsurance ExpenseInterest ExpenseInterest PayableInterest RevenueSalaries ExpenseSales RevenueUnearned Revenue		Answer
	Record NSF fee