Lea Valley Electronics had a computer failure on March 1, 2014, which resulted in the loss of data, including the balance of its Cash account and its bank reconciliation from February 28, 2014. The accountant, Matt Vincent, has been able to obtain the following information from the records of the company and its bank:
a. An examination showed that two cheques (#244 for $305.00 and #266 for $632.50) had not been cashed as of March 1. Vincent recalled that there was only one deposit in transit on the February 28 bank reconciliation, but was unable to recall the amount.
b. The cash receipts and cash payments journals contained the following entries for March 2014:

c. The company's bank provided the following statement as of March 31, 2014:

d. The deposit made on March 14 was for the collection of a note receivable ($1,100.00) plus interest.
e. The electronic funds transfers (EFTs) had not yet been recorded by Lea Valley Electronics as the bank statement was the first notification of them.
€¢ The March 17 EFT was for the monthly payment on an insurance policy for Lea Valley Electronics.
€¢ The March 19 and 24 EFTs were collections on accounts receivable.
€¢ The March 22 EFT was in error-the transfer should have been to Lea Valley Auto Parts.
f. The NSF cheque on March 27 was received from a customer as payment for electronics purchased for $805.00.
g. Cheque no. 280 was correctly written for $3,976.90 for the purchase of inventory (assume periodic), but incorrectly recorded by the cash payments clerk.
Required
1. Prepare a bank reconciliation as of March 31, 2014, including the calculation of the book balance of March 31, 2014.
2. Prepare all journal entries that would be required by the bank reconciliation.

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Cash Payments: Cash Recelpts: Cheque # Amount Amounts $ 310.50 $ 908.50 275 1,748.00 276 448.50 3,726.00 277 466.90 1,975.00 278 811.90 736.00 279 577.30 $9,093.50 280 3,886.90 void 281 282 488.50 283 1,058.00 $8,048.50 Cheques and Other Deposits and Other Date Debits Credits Balance Mar. 1 #276 448.50 2,346.00 6,520.50 #266 632.50 5,888.00 #277 466.90 5,421.10 908.50 6,329.60 14 #275 310.50 1,196.00 7,215.10 17 EFT 529.00 6,686.10 19 EFT 414.00 7,100.10 # 279 # 280 22 577.30 1,748.00 8,270.80 22 3,976.90 EFT 1,196.00 5,489.90 24 EFT 471.50 5,961.40 27 NSF 805.00 3,726.00 8,882.40 28 SC 20.00 8,862.40 31 # 283 1,058.00 1,975.00 9,779.40