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The CAN'T MANAGE ANYTHING (CMA) Company is in the process of auditing its cash account for the month of March 2018. The balance on March
The CAN'T MANAGE ANYTHING (CMA) Company is in the process of auditing its cash account for the month of March 2018. The balance on March 31, 2018 in the company's ledger account was $10,100. The Bank Statement showed a balance of $10,800 at March 31, 2018. The following information was made available to the internal auditor. - Checks outstanding at 3-31 were $3200 (Included in the $3200 was one certified check in the amount of $200). - A deposit in the amount of S2500 made late on 3-31 did not appear in the March bank statement - The bookkeeper for the company recorded a check correctly written for $320.00 as $230,00 in the company's books. The check was for office supplies. - The bank erroneously deducted a $100.00 check from the company's account The bank deducted their monthly service charge of $20.00. The bank also retumed a deposited check the company had received this check from a customer) in the amount of $200.00 marked NSF. The bank statement shows a direct deposit of $610 made to the company's account from a note receivable collected by the bank on the company's behalf. The note was for $600.00 and there was $10.00 of interest earned on the note. REQUIRED: Prepare the March 2018 bank reconciliation for this company and make the required journal entries. Balance per books (3-31)....... Balance per bank (3-31)..... ADD: ADD: DEDUCT: DEDUCT: Adjusted Balance at 3-31-18.... Adjusted Balance at 3-31-18 Prepare the necessary journal entries below
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