Part $\backslash (4[50\backslash )$ points$]$

a$)$ The following bank statement was received. Prepare a bank reconciliation for March:

Additional Information: The NSF cheque was received in February from Benson Inc. for a sale dated February $15.$

b$)$ Prepare the appropriate adjusting entries on March $31,2024.$ Hint: Some additional information is provided below but where else might you look to find details relevant to preparing the adjusting entries?

$-$ It is estimated that utilities used during March totalled $\backslash (\backslash$$ $17,200\backslash ).$

$-$ Actual count of ending merchandise inventory on March $31,2024$ was $\backslash (\backslash$$ $1,797,342\backslash )$

$-$ Income taxes are estimated to be $\backslash (\backslash$$ $211,300\backslash ).$

c$)$ What is the next step in the accounting cycle?

Post adjusting entries

Prepare a post$-$closing trial balance

Post transactions

Analyze and journalize transactions

Prepare an adjusted trial balance

Prepare an unadjusted trial balance

Prepare financial statements

This is the last step

Post closing entries

Prepare closing entries