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The bank portion of last months bank reconciliation for Sandhill Ltd. at February 28 was as follows:

The reconciled cash balance per bank agreed with the reconciled cash balance per books after the bank reconciliation at February 28. The March bank statement showed the following:

Sandhills cash receipts and payments for the month of March showed the following:

Additional information:

1.		The EFT loan payment should have been recorded by the company on March 15, but this entry was missed. The payment included $85 of interest and a $1,130 payment on the loan principal.
2.		The bank made an error processing cheque #3472.
3.		The EFT collection from M. Boudreault was not previously recorded.
4.		Bank service charges and debit and credit card processing fees totalling $89 were not previously recorded.

a. Prepare the bank reconciliation on March 31. (List items that increase balance as per bank & books first.)

SANDHILL LTD. Bank Reconciliation February 28 Cash balance per bank Add: Deposits in transit $17,991 3,164 21,155 Less: Outstanding cheques #3451 #3470 Reconciled cash balance $1,940 2,155 $17,060 Amounts Added to Account (Credits) Date Feb. Mar. 28 1 1 3,164 2 4 SANDHILL LTD. Bank Statement March 31 Amounts Deducted from Description Account (Debits) Opening balance Cheque, No. 3451 1,940 Deposit Cheque, No. 3470 2,155 Deposit Cheque, No. 3471 1,685 Returned cheque-NSF, J. Mustafa 875 NSF fee 35 EFT, loan payment 1,215 Cheque, No. 3472 1,843 Deposit EFT, collection on account from M. Boudreault Bank service charges and credit card fees 1,963 Balance 17,991 16,051 19,215 17,060 19,023 17,338 16,463 16,428 15,213 13,370 16,646 9 10 10 15 19 26 3,276 31 610 17,256 17,167 31 89 Cash Receipts Date Date Mar. 4 Mar. Cash Payments Number Amount 7 3471 $1,685 3472 1,483 29 3473 4,911 $8,079 Amount $1,963 3,276 4,006 $9,245 26 15 31 YAP LTD Bank Reconciliation March 31 Reconciled cash balance per bank $ Add $ $ $ + $ $ Save for Later Attempts: 0 of 2 used Submit Answer Prepare any journal entries required from the reconciliation. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Mar. 31 (To record EFT collections) 31 (To record bank charges and fees) 31 (To record NSF cheque and fee) 31 (To record EFT loan payment)

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