Reference no: EM132463723

Dodge Company developed the following information in recording its bank statement for the month of February.

Balance per books February 28                                                        9,570

Balance per bank statement February 28                                         11,100

Checks written in February but still outstanding                                 4,290

Checks written in January but still outstanding                                     830

Deposits of February 27 not yet recorded by the bank                          5,020

NSF check of customer returned by bank                                             630

Bank service charge for February 30

The bank statement included a debit memo regarding an EFT to Pasco Utilities for $540.

The bank collected a note receivable on behalf of the company for                  $2,200

plus interest revenue of                                                                                $340.

(No interest revenue had been accrued)

Point 1: Check 210 to Beldron Enterprises for $345 was correctly issued and paid by the bank, but incorrectly entered in the cash payments journal as payment on account for $435.

Instructions:

Question 1: Prepare the bank reconciliaiton at February 28

Question 2: Prepare the necessary journal entries that result from the bankreconciliaiton.