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On March 31, 2019, Home Decorating Pavilion received a bank statement showing a balance of $9.720. The balance in the firms
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Home Decorating Pavilion
Bank Reconciliation Statement
March 31,2019
Balance on Bank statement 9,720
Addittions:
Deposit in transit 2,845
Check incorrectly charged to account 545
3,390
13,110
Deductions for oustanding checks
cheque #358 470
cheque #359 1,620
Total oustanding cheques 2,090
Adjusted bank balance 11,020
Balance in books 9,962
Addittions:
Error in recording cheque 341 50
Collection of note with interest 1540
1590
11,552
Deductions:
Service charge 22
NSF 510
532
Adjusted book balance 11,020
Journal Entries
Date General Journal Debit Credit
3/31/2019 Cash 1540
note receivable 1,400
interest income 140
3/31/2019 Cash 50
Rent expense 50
3/31/2019 Service expense 22
cash 22
3/31/2019 Accounts receivable 510
cash 510
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