Question

Simon Ross receives the March bank statement for Pearson Goods on April 11, 2021. The March 31 bank statement shows an ending cash balance of $68,576. A comparison of the bank statement with the general ledger Cash account, No. 101, reveals the following. 

a. S. Ross notices that the bank erroneously cleared a $700 check against her account in March that she did not issue. The check documentation included with the bank statement shows that this check was actually issued by a company named Pearson Hardman. 

b. On March 25, the bank issued a $57 debit memorandum for the safety deposit box that Pearson Goods agreed to rent from the bank beginning March 25. 

c. On March 26, the bank issued a $95 debit memorandum for printed checks that Pearson Goods ordered from the bank. 

d. On March 31, the bank issued a credit memorandum for $97 interest earned on Pearson Goods checking account for the month of March. 

e. S. Ross notices that the check she issued for $250 on March 31, 2021, has not yet cleared the bank. 

f. S. Ross verifies that all deposits made in March do appear on the March bank statement. g. The general ledger Cash account, No. 101, shows an ending cash balance per books of $69,081 as of March 31 (prior to any reconciliation). 

Question

Prepare any necessary adjusting entries. Use Miscellaneous Expenses, No. 677, for any bank charges. Use Interest Revenue, No. 404, for any interest earned on the checking account for the month of March.