Reference no: EM132614101

Question - BANK RECONCILIATION

Using the following information to complete the Bank Reconciliation for November:

Belbin's Paralegal Services developed the following information for the month of March, 2017:

Balance per books March 31 $1,905

Balance per bank statement March 31 $11,400

1. Cheques written in March but still outstanding $8,000.

2. Cheques written in February but still outstanding $2,800.

3. Deposits of March 30 and 31 not yet recorded by bank $5,200.

4. NSF cheque of customer returned by bank $700.

5. Cheque No. 210 for $594 was correctly issued and paid by bank but incorrectly entered in the general journal as payment on account for $549.

6. Bank service charge for March was $50.

7. A payment on account was incorrectly entered in the general journal and posted to the Accounts Payable subsidiary ledger for $824 when Cheque No. 318 was correctly prepared for $284. The cheque cleared the bank in March.

8. A review of the bank statement revealed Belbin's Paralegal Services received electronic payments from customers on account of $4,150 during March.