The following information was obtained from the books of Burghduff Products for the month of March:

Cash Account Information:

    

Balance on February 28	$2,223.00
Receipts	1,715.00
Payments	2,015.00
Balance on March 31	$ ??

        

Cash Receipts
Date	Amount
Mar. 4	$ 282.00
Mar. 8	187.00
Mar. 14	329.00
Mar. 20	256.00
Mar. 25	342.00
Mar. 31	319.00

          

Cash Payments
Date	Check Number	Amount
Mar. 3	415	$ 357.00
Mar. 9	416	88.00
Mar. 13	417	106.00
Mar. 18	418	$335.00
Mar. 21	419	59.00
Mar. 28	420	450.00
Mar. 29	421	250.00
Mar. 31	422	370.00

Bank Account Information:

               

Sentinel National Bank 1443 Woodlawn Avenue
In account with: Burghduff Products 1804 Oak Street
Date	Deductions	Deposits	Balance
March 1	Balance forwarded		$2,316.00
March 1		$265.00	2,581.00
March 4	$358.00	282.00	2,505.00
March 8	357.00	187.00	2,335.00
March 14	88.00	329.00	2,576.00
March 14	106.00		2,470.00
March 19	335.00		2,135.00
March 20		256.00	2,391.00
March 25	59.00	342.00	2,674.00
March 29	NSF 150.00		2,524.00
March 31	450.00		2,074.00
March 31	SC 45.00		2,029.00

Additional Information:

A. The reconciliation on February 28 included the following two items:

Outstanding check number 412	$358
Deposit in transit	$265

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B. The service charge includes a $15 fee for the nonsufficient funds check.

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C. The nonsufficient funds check from Mark Edgerston was included in Burghduff Products's deposit on March 14.

Required:

Prepare the bank reconciliation for March.

Answer rating: 100% (QA)

Step 1 of 3 A Calculation of closing cash balance on March 31 as per book as follows Amont 3 Balance ... View the full answer