This problem continues the Canyon Canoe Company situation from Chapter 6. Canyon Canoe Company has decided to open a new checking account at River Nations Bank during March 2019. Canyon Canoe Company's March Cash T-account for the new cash account from its general ledger is as follows:

Canyon Canoe Company's bank statement dated March 31, 2019, follows:

Requirements
1. Prepare the bank reconciliation at March 31, 2019.
2. Journalize any transactions required from the bank reconciliation.
3. Compute the adjusted account balance for the Cash T-account, and denote the balance as End. Bal. Does the adjusted balance of the Cash T-account match the adjusted book balance on the bank reconciliation?

Transcribed Image Text:

Cash-River Nations Bank Checking Account Mar. 1 Balance 2 Deposit 13 Deposit 20 Deposit Ck#101 200 Mar. 2 10,000 Ck#102 4,300 2,325 Ck#103 750 2,750 Ck#104 27 Deposit 31 Deposit 1,675 14 4,500 1,500 Ck#105 3,490 21 Ck#106 175 28 Ck#107 300 30 Balance 14,165 Beginning Balance, March 1, 2019 Deposits and other credits: Mar. 2 $10,000 14 2,325 21 2,750 4,500 28 29 EFT Sport Shirts1) 500 31 Interest Revenue 45 20,120 Checks and other debits: Mar. 2 EFT to Bank Checks2) з С#101 6 Ck#102 55 200 4,300 15 Ck#104 1,675 16 Ck#103 750 28 EFT to Rivers Energy3) 270 29 Ck#106 175 31 Bank service charge Ending balance, March 31, 2019 70 (7,495) $ 12,625