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What are the two sections of a bank reconciliation? What are the steps to prepare a bank reconciliation? Practice Problem u The information below relates

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What are the two sections of a bank reconciliation? What are the steps to prepare a bank reconciliation? Practice Problem u The information below relates to the Cash account in the ledger of Rocks and Roll Comparm Balance March 1 - $257,000; Total Cash Receiots/Deoosits for March 5960.00 : Checks issued in March - $971,000 Rocks and Roll Company received the March 2022 bank statement which showed a cash balance of 5213,248 on March 31. Upon review of the bank statement the following information was noted: - At March 31, deposits in transit were $72380. - The bank collected an electronic funds transfer of $10,000 from Parka Corporation. - On March 31, it was discovered that Rock and Roll Company wrote a check for 52,252 but incorrectly recorded it in the books for $2,520. The check was a payment towards outstanding Accounts Payable. - Interest earned on the checking account was $568. - A customer's check for $3,648 marked NSF was returned by the bank. - Rocks and Roll Company wrote the following check to customers; Check 101$10,000; Check 102 $22,968. These checks have vet to clear the bank: - The bank charged $528 to Rocks and Roll Company for the rent of a safety deposit box. INSTRUCTIONS: Preoare a bank reconciliation for Rocks and Roll Company at March 31, 2022. Prepare the entries required by the reconciliation. The information below relates to the Cash account in the ledger of Rocks and Roll Compari, Balance March 1 - \$257,000; Total Cash Receivts/Deoosits for March S960.00: Checks issued in March - $971,000 Rocks and Roll Company received the March 2022 bank statement which showed a cash balance of $213,248 on March 31. Upon review of the bank statement the following information was noted: - At March 31, deposits in transit were $72,380. - The bank collected an electronic funds transfer of $10,000 from Parka Corporation. - On March 31, it was discovered that Rock and Roll Company wrote a check for $2,252 but incorrectly recorded it in the books for $2,520. The check was a payment towards outstanding Accounts Payable. - Interest earned on the checking account was \$568. - A customer's check for $3,648 marked NSF was returned by the bank. - Rocks and Roll Company wrote the following check to customers: Check 101- \$10,000; Check 102 $22,968. These checks have vet to clear the bank. - The bank charged $528 to Rocks and Roll Company for the rent of a safety deposit box. INSTRUCTIONS: Prenare a bank reconciliation for Rocks and Roll Company at March 31, 2022. Prepare the entries required by the reconciliation

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