Dillman Food Store Developed the Following Information in Recording Its

question 17

Essay

Dillman Food Store developed the following information in recording its bank statement for the month of March.
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(1) Checks written in March but still outstanding $7,000.
(2) Checks written in February but still outstanding $2,800.
(3) Deposits of March 30 and 31 not yet recorded by bank $5,200.
(4) NSF check of customer returned by bank $1,200.
(5) Check No. 210 for $594 was correctly issued and paid by bank but incorrectly entered in the cash payments journal as payment on account for $549.
(6) Bank service charge for March was $50.
(7) A payment on account was incorrectly entered in the cash payments journal and posted to the accounts payable subsidiary ledger for $824 when Check No. 318 was correctly prepared for $284. The check cleared the bank in March.
(8) The bank collected a note receivable for the company for $4,000 plus $150 interest revenue.
Instructions
Prepare a bank reconciliation at March 31.

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Definitions:

Rapidly Improves

The process of quickly enhancing or increasing the efficiency, quality, or performance of something.

Leader-Member Exchange

A theory that focuses on the two-way (dyadic) relationship between leaders and followers, emphasizing the mutual benefits derived from a high-quality relationship.

Gradually

In a steady and progressive manner over time, without sudden changes or jumps.

Poor Performance

Substandard work productivity or quality that fails to meet the established or expected levels.