The following Information is available for Pyle Garage for March, Year 2 BANK STATEMENT HAZARD STATE BANK 215 MAIN STREET HAZARD, GA 30321 Pyle Garage 629 Main Street HAZARD, GA 30321 Beginning balance 3/1/Year 2 Total deposits and other credits Total checks and other debits Ending balance 3/31/Year 2 Checks and Debits Account number 62-00062 March 31, Year 2 59,063 30,048 24,959 14,152 Deposits and Credits Check No. Amount Date Amount 1462 $3,789 March $ $1,331 1463 1,676 March 2 6,539 1464 8,034 March 6 4,968 1465 2,936 March 12 6,204 1466 1,442 March 17 6,000 1467 6,217 March 22 2,120 DM 55 CM 3,086 1468 810 The following is a list of checks and deposits recorded on the books of Pyle Garage for March, Year 2: Amount of Check Amount of Date No. Check March 1 1463 $1,676 Date March Deposit 1 $6,539 March 5 1464 8,034 March 5 4,968 March 6 1465 2,936 March 9 1466 1,442 March 10 6,204 March 10 1467 6,217 March 14 1468 125 March 16 6,000 March 19 1469 March 28 1470 1,534 March 19 2,120 778 March 29 3,583 Other Information 1. Check no. 1462 was outstanding from February 2. A credit memo for collection of accounts receivable was included in the bank statement 3. All checks were paid at the correct amount 4. The bank statement Included a debit memo for service charges 5. The February 28 bank reconciliation showed a deposit in transit of $1,131 6. Check no. 1468 was for the purchase of equipment 7. The unadjusted Cash account balance at March 31 was $13,077 Required: a. Prepare the bank reconciliation for Pyle Garage at the end of March b. Explain how the adjustments described above affect the cash account. Other Information 1. Check no. 1462 was outstanding from February. 2. A credit memo for collection of accounts receivable was Included in the bank statement 3. All checks were paid at the correct amount. 4. The bank statement Included a debit memo for service charges. 5. The February 28 bank reconciliation showed a deposit in transit of $1,131 6. Check no. 1468 was for the purchase of equipment 7. The unadjusted Cash account balance at March 31 was $13,077. Required: a. Prepare the bank reconciliation for Pyle Garage at the end of March. b. Explain how the adjustments described above affect the cash account. Complete this question by entering your answers in the tabs below. Required A Required B Prepare the bank reconciliation for Pyle Garage at the end of March. (Negative amounts should be indicated with minus sign.) PYLE GARAGE Bank Reconciliation March 31, Year 2 Unadjusted Bank Balance, March 31. Year 2 Add: Deposit in transit Less: Outstanding checks True Cash Balance, March 31. Year 2 Unadjusted Book Balance, March 31, Year 2 Add: Credit memo for collection of notes receivable Less: Book error True Cash Balance, March 31. Year 2 S 0 $ Required B > 13