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Exercise 9.7 (Algo) Preparing a bank reconciliation statement. LO 9-9, 9-10 Baxter Office Supplies received...

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Exercise 9.7 (Algo) Preparing a bank reconciliation statement. LO 9-9, 9-10 Baxter Office Supplies received a bank statement showing a balance of $67,605 as of March 31,201. The firm's records showed a book balance of $69,439 on March 31. The difference between the two balances was caused by the following items. 1. A debit memorandum for $42, which covers the bank's collection fee for the note. 2. A deposit in transit of $3,300. 3. A check for $240 issued by another firm that was mistakenly charged to Baxter's account. 4. A debit memorandum for an NSF check of $6,095 issued by Watson Construction Company, a credit customer. 5. Outstanding checks: Check 3782 for $1,800; Check 3840 for $143. 6. A credit memorandum for a $5,900 noninterest-bearing note receivable that the bank collected for the firm. Prepare a bank reconciliation statement for the firm as of March 31 and the necessary journal entries from the statement

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