1314151617TITQuestion 4:Brown's Grocery Store developed the following information in recording its bankstatement for the month of March 2022.Balance per books March 31Balance per bank statement March 31$ 7,555$12,760Additional information:1. Cheques written in March but still outstanding $10,600.2. Deposits of March 30 and 31 not yet recorded by bank $5,240.NSF cheque of customer returned by bank $645.4.3.Bank service charge for March was $50.5. A payment on account was incorrectly entered in the general journal for $714 whenCheque No. 318 was correctly prepared for $174. The cheque cleared the bank inMarch.Required:a) Prepare a bank reconciliation at March 31, 2022.b) Prepare any adjusting entries necessary as a result of the bank reconciliation.

Bank reconciliation statement shows reconciliation between bank balance as per cash book and balance…

Balance per books March 31 Balance per bank statement March 31 $ 7,555 $12,760 Additional information: 1. Cheques written in March but still outstanding $10,600. 2. Deposits of March 30 and 31 not yet recorded by bank $5,240. 3. NSF cheque of customer returned by bank $645. 4. Bank service charge for March was $50. 5. A payment on account was incorrectly entered in the general journal for $714 when Cheque No. 318 was correctly prepared for $174. The cheque cleared the bank in March. Required: a) Prepare a bank reconciliation at March 31, 2022. b) Prepare any adjusting entries necessary as a result of the bank reconciliation.