The March bank statement showed the following for Pharoah Co.: PHAROAH CO. Bank Statement March 31, 2021 Cheques and Other Debits Date Number Amount Deposits Amount Feb. 28 $12,705 Mar. 3 3470 $1,505 $2,505 13,705 4 3471 820 12,885 6 3472 1,405 1,205 12,685 7 3473 265 12,420 10 NSF 556 11,864 11 3475 465 1,725 13,124 14 3477 905 12,219 17 3476 1,805 2,265 12,679 20 1,815 14,494 21 3474 2,315 12,179 26 3478 1,090 2,778 13,867 31 LN 1,115 12,752 31 3480 1,655 11,097 31 SC 44 IN 21 11,074 Additional information: 1. The bank statement contained three debit memoranda: An NSF cheque of $556 that Pharoah had deposited was returned due to insufficient funds in the makers bank account. This cheque was originally given to Pharoah by Mr. Jordan, a customer, in payment of his account. Pharoah believes it will be able to collect this amount from Mr. Jordan. A bank loan payment (LN), which included $115 of interest and a $1,000 payment on the principal. (Hint: Use Notes Payable.) A service charge (SC) of $44 for bank services provided throughout the month. 2. The bank statement contained one credit memorandum for $21 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. Pharoahs unadjusted cash balance per its general ledger on March 31 is $8,576. Pharoah's list of cash receipts and cash payments showed the following for March: Cash Receipts Date Amount Mar. 5 $1,205 10 1,725 14 2,265 20 1,815 25 2,787 31 1,015 Total $10,812 Cash Payments Date Cheque No. Amount Mar. 3 3472 $1,405 4 3473 625 6 3474 2,315 7 3475 465 13 3476 1,805 14 3477 905 19 3478 1,590 21 3479 146 28 3480 1,655 31 3481 850 31 3482 1,115 Total $12,876 The bank portion of the previous months bank reconciliation for Pharoah Co. at February 28, 2021, was as follows: PHAROAH CO. Bank Reconciliation February 28, 2021 Cash balance per bank $12,705 Add: Deposits in transit 2,505 15,210 Less: Outstanding cheques #3451 $2,245 #3470 1,505 #3471 820 4,570 Adjusted cash balance per bank $10,640 Prepare a bank reconciliation at March 31. (List items that increase balance as per bank & books first.) PHAROAH CO. Bank Reconciliation March 31, 2021 Cash balance per bank statement $ : : $ $ $ : $ : $ List of Accounts Prepare the necessary adjusting 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.) Date Account Titles and Explanation Debit Credit Mar. 31 (To correct error in recording cheque issued and to record interest earned) Mar. 31 (To record NSF cheque and other cash payments)