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On March 31, 2019, Home Decorating Pavilion received a bank statement showing a balance of $9,740. The balance in

the firm's checkbook and Cash account on the same date was $10,164. The difference between the two balances is caused by the items listed below.

  1. A $2,865 deposit made on March 30 does not appear on the bank statement.
  2. Check 358 for $480 issued on March 29 and Check 359 for $1,640 issued on March 30 have not yet been paid by the bank.
  3. A credit memorandum shows that the bank has collected a $1,200 note receivable and interest of $120 for the firm.
  4. A service charge of $24 appears on the bank statement.
  5. A debit memorandum shows an NSF check for $520. (The check was issued by Dane Jaris, a credit customer.)
  6. The firm's records indicate that Check 341 of March 1 was issued for $700 to pay the month's rent. However, the canceled check and the listing on the bank statement show that the actual amount of the check was $600.
  7. The bank made an error by deducting a check for $555 issued by another business from the balance of Home Decorating Pavilion's account.

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Home Decorating Pavilion Bank Reconciliation Statement on March 31, 2019 Balance as per bank 9,740 statement Deposits in... View the full answer

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