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Venturi Office Supplies received a bank statement showing a balance of $13,047 as of March 31, 20x1. The firm's records showed a book balance of
Venturi Office Supplies received a bank statement showing a balance of $13,047 as of March 31, 20x1. The firm's records showed a book balance of $72,987 on March 31 . The difference between the two balances was caused by the following items. 1. A debit memiorandum for $40, which covers the bank's collection fee for the note (ltem 6). 2. A deposit in transit of $3,700 3. A check for $348 issued by anothet firm that was mistakenly charged to Venturi's account. 4. A debit memorandum for an NSF check of $4,643 issued by Wilson Construction Company, a credit customer, 5. Outstanding checks, Check 3782 for $1,250, Check 3840 for $141. 6. A credit memorandum for a $7,400 noninterest bearing note receivable that the bank collected for the firm. Required: 1. Prepare a bank teconcillation statement for the firm as of March 31, 2. Prepare the necessary journal entries for March 31,201 from the statement. Prepare a bank reconciliation statement for tha firm ae nf Mamh ot Note: Enter debits before credits. Journal entry worksheet 4 Journal entry worksheet Record the check incorrectly charged. Note: Enter debits before credits. Journal entry worksheet 2 Record the bank collection fee. Note: Enter debits before credits. Journal entry worksheet 2 Record the outstanding checks. Note: Enter debits before credits. Journal entry worksheet (1) 234 Record the NSF check returned by bank. Note: Enter debits before credits. Prepare the necessary journal entries for March 31, 201 from the statement. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.)
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