The March bank statement showed the following for Cullumber Co.: Additional information: 1. The bank statement contained three debit memoranda: - An NSF cheque of $553 that Cullumber had deposited was returned due to insufficient funds in the maker's bank account. This cheque was originally given to Cullumber by Mr. Robert, a customer, in payment of his account. Cullumber believes it will be able to collect this amount from Mr. Robert. - A bank loan payment (LN), which included \$100 of interest and a \$1,000 payment on the principal. (Hint Use Notes Payable.) - A service charge (SC) of \$41 for bank services provided throughout the month. 2. The bank statement contained one credit memorandum for $18 of interest (IN) earned on the account for the month. 3. The bank made an error processing cheque \#3478. No other errors were made by the bank. Cullumber's unadjusted cash balance per its general ledger on March 31 is $8,594. Cullumber's list of cash receipts and cash payments showed the following for March: \begin{tabular}{|cc} \hline \multicolumn{2}{c}{ Cash Receipts } \\ \hline Date & Amount \\ \hline Mar. 5 & $1,202 \\ 10 & 1,722 \\ 14 & 2,262 \\ 20 & 1,812 \\ 25 & 2,787 \\ 31 & 1,012 \\ \hline Total & $10,797 \\ \hline \end{tabular} \begin{tabular}{|ccc|} \hline \multicolumn{3}{c|}{ Cash Payments } \\ \hline Date & Cheque No. & Amount \\ \hline Mar. 3 & 3472 & $1,402 \\ \hline \end{tabular} \begin{tabular}{rrr} 4 & 3473 & 625 \\ 6 & 3474 & 2,312 \\ 7 & 3475 & 462 \\ 13 & 3476 & 1,802 \\ 14 & 3477 & 902 \\ 19 & 3478 & 1,590 \\ 21 & 3479 & 143 \\ 28 & 3480 & 1,652 \\ \hline 31 & 3481 & 847 \\ \hline 31 & 3482 & 1,112 \\ \hline Total & & $12,849 \\ \hline \end{tabular} The bank portion of the previous month's bank reconciliation for Cullumber Co. at February 29, 2024, was as follows: Prepare the necessary journal entries at March 31. (Note: The correction of any errors in the recording of cheques should be made to Accounts Payable. The correction of any errors in the recording of cash receipts should be made to Accounts Receivable.) (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select " No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.)
