Reference no: EM132784810

Question - The following information is available for Airborne, Inc. as of March 31, 2020:

a. Cash on the books as of March 31 amounted to $22,754.16. Cash on the bank statement for the same date was $32,351.46.

b. A deposit of $3,344.50, representing cash receipts of March 31, did not appear on the bank statement.

c. Outstanding checks totaled $3,936.80.

d. A check for $1,920.00 returned with the statement was recorded incorrectly in the check register as $1,380.00. The check was for a cash purchase of merchandise.

e. The bank collected $10,300.00 for Airborne, on a note. The face value of the note was $10,000.00.

f. The bank mistakenly charged to the company account a check for $755.00 drawn by another company.

REQUIRED -

1. Prepare in a proper format the Bank Reconciliation for Airborne, Inc. as of March 31, 2020.

2. Prepare in proper format the Journal Entries necessary to adjust the accounts as of March 31, 2020.