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3. Required (17 marks): Reconcile the books and records for Martin Furniture Inc. with the company's bank statement and prepare any journal entries Martin Furniture Inc. would need to record. DR The following is the general ledger and bank statement for Martin Furniture Inc. General Ledger Report May 31, 2010 to June 30, 2010 Account 1020 Cash Date Comment Source # JE# CR Jun 1 Opening Balance Jun 6 Chicago Hardware Traders Inc. 541 J1 900.50 Jun 9 Reo's Interiors Inc. 700 J3 1,925.00 Jun 10 Air-conditioning Repair & Co. 543 J7 1,600.00 Jun 16 Alex Santiago Payroll 542 J10 400.00 Jun 16 Martin Furnishings Inc. 256 J11 2,000.00 Jun 19 Line-wire Electric 544 J20 110.00 Jun 19 Rice Inc. 545 J21 500.00 Jun 30 Closing Balance Balance 3,100.50 2,200.00 4,125.00 2,525.00 2,125.00 4,125.00 4,015.00 3,515.00 3,515.00 Reserve Bank 146 Lineage Avenue, Chicago Deposits Balance 1,925.00 Martin Furniture Inc. 234 Lak Drive Chicago 19112 Date Information Withdrawal Jun 1 Balance Forward Jun 8 Cheque #541 900.50 Jun 9 Deposit Jun 10 Cheque #543 1,600.00 Jun 16 Deposit Jun 16 Cheque #542 400.00 Jun 18 NSF Cheque #256 2,000.00 Jun 21 Cheque #544 110.00 Jun 27 Deposit Interest Jun 29 Service Charge 20.00 Jun 29 Loan Interest 100.00 Jun 30 Ending Balance 2,000.00 3,100.50 2,200.00 4,125.00 2,525.00 4,525.00 4,125.00 2,125.00 2,015.00 2,020.00 2,000.00 1,900.00 1,900.00 5.00

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