Santana Rey receives the March bank statement for Business Solutions on April 11, 2021. The March 31 bank statement shows an ending cash balance of $67,566. The general ledger Cash account, No. 101, shows an ending cash balance per books of $68,057 as of March 31 (prior to any reconciliation). A comparison of the bank statement with the general ledger Cash account, No. 101, reveals the following. The bank erroneously cleared a $500 check against the company account in March that S. Rey did not issue. The check was actually issued by Business Systems. On March 25, the bank statement lists a $50 charge for the safety deposit box. Santana has not yet recorded this expense. On March 26, the bank statement lists a $102 charge for printed checks that Business Solutions ordered from the bank. Santana has not yet recorded this expense. On March 31, the bank statement lists $33 interest earned on Business Solutions’s checking account for the month of March. Santana has not yet recorded this revenue. S. Rey notices that the check she issued for $128 on March 31, 2021, has not yet cleared the bank. S. Rey verifies that all deposits made in March do appear on the March bank statement. Required: 1. Prepare a bank reconciliation for Business Solutions for the month ended March 31, 2021.
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Santana Rey receives the March bank statement for Business Solutions on April 11, 2021. The March 31...
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