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Cash Acct. No. 101 Date Explanation PR Debit Credit Balance Aug. 31 Balance Sept. 30 Total receipts 30 Total disbursements 16,946 28,761 19,204 R12 11,815 D23 9,557 Additional Information Check No. 5904 is correctly drawn for $2,127 to pay for computer equipment; however, the recordkeeper misread the amount and entered it in the accounting records with a debit to Computer Equipment and a credit to Cash of $2,088. The NSF check shown in the statement was originally received from a customer, S. Nilson, in payment of her account. Its return has not yet been recorded by the company. The credit memorandum is from the collection of a $1,650 note for Chavez Company by the bank. The bank deducted a $18 collection fee. The collection and fee are not yet recorded. Problem 8-5A Part 2 2. Prepare the journal entries to adjust the book balance of cash to the reconciled balance. (If no entry is required for e transaction/levent, select "No journal entry required" in the first account field.)

Cash Acct. No. 101 Date Explanation PR Debit Credit Balance Aug. 31 Balance Sept. 30 Total receipts 30 Total disbursements 16,946 28,761 19,204 R12 11,815 D23 9,557 Additional Information Check No. 5904 is correctly drawn for $2,127 to pay for computer equipment; however, the recordkeeper misread the amount and entered it in the accounting records with a debit to Computer Equipment and a credit to Cash of $2,088. The NSF check shown in the statement was originally received from a customer, S. Nilson, in payment of her account. Its return has not yet been recorded by the company. The credit memorandum is from the collection of a $1,650 note for Chavez Company by the bank. The bank deducted a $18 collection fee. The collection and fee are not yet recorded. Problem 8-5A Part 2 2. Prepare the journal entries to adjust the book balance of cash to the reconciled balance. (If no entry is required for e transaction/levent, select "No journal entry required" in the first account field.)

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 3E
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5909 1,879 9,557 Cash Acct. No. 101 Explanation Aug. 31 Balance Sept. 30 Total receipts Date PR Debit Credit Balance 16,946 R12 11,815 28,761 19,204 30 Total disbursements D23 9,557 Additional Information Check No. 5904 is correctly drawn for $2,127 to pay for computer equipment; however, the recordkeeper misread the amount and entered it in the accounting records with a debit to Computer Equipment and a credit to Cash of $2,088. The NSF check shown in the statement was originally received from a customer, S. Nilson, in payment of her account. Its return has not yet been recorded by the company. The credit memorandum is from the collection of a $1,650 note for Chavez Company by the bank. The bank deducted a $18 collection fee. The collection and fee are not yet recorded. Problem 8-5A Part 2 2. Prepare the journal entries to adjust the book balance of cash to the reconciled balance. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 4 Record the entry related to the September 30 deposit, if required. Note: Enter debits before credits. Debit Credit Date General Journal Sept 30 <Prev 3 of 4 Next
Transcribed Image Text:5909 1,879 9,557 Cash Acct. No. 101 Explanation Aug. 31 Balance Sept. 30 Total receipts Date PR Debit Credit Balance 16,946 R12 11,815 28,761 19,204 30 Total disbursements D23 9,557 Additional Information Check No. 5904 is correctly drawn for $2,127 to pay for computer equipment; however, the recordkeeper misread the amount and entered it in the accounting records with a debit to Computer Equipment and a credit to Cash of $2,088. The NSF check shown in the statement was originally received from a customer, S. Nilson, in payment of her account. Its return has not yet been recorded by the company. The credit memorandum is from the collection of a $1,650 note for Chavez Company by the bank. The bank deducted a $18 collection fee. The collection and fee are not yet recorded. Problem 8-5A Part 2 2. Prepare the journal entries to adjust the book balance of cash to the reconciled balance. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 4 Record the entry related to the September 30 deposit, if required. Note: Enter debits before credits. Debit Credit Date General Journal Sept 30 <Prev 3 of 4 Next
Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, No. 5888 for $1,056 and No. 5893 for $498. The following information is available for its September 30, 2017, reconciliation. From the September 30 Bank Statement PREVIOUS BALANCE TOTAL CHECKS AND DEBITS TOTAL DEPOSITS AND CREDITS CURRENT BALANCE 18,500 9,829 11,701 20,372 CHECKS AND DEBITS Date DEPOSITS AND CREDITS No. Amount Date Amount 09/03 5888 1,056 09/05 09/12 09/21 09/25 09/30 09/30 1,185 2,223 4,272 2,368 09/04 5902 708 09/07 09/17 5901 1,818 666NSF 09/20 5905 917 21IN 09/22 5903 437 1,632CM 09/22 09/28 09/29 5904 2,127 5907 221 5909 1,879 From Chavez Company's Accounting Records Cash Receipts Deposited Cash Date Debit Sept. 5 1,185 12 2,223 21 4,272 25 2,368 30 1,767 11,815 Cash Disbursements Cash Credit Check No. 5901 1,818 5902 708 5903 437 5904 2,088 5905 917 5906 1,048 5907 221 5908 441 5909 1,879 %24 < Prev 3. of 4 Next >
Transcribed Image Text:Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, No. 5888 for $1,056 and No. 5893 for $498. The following information is available for its September 30, 2017, reconciliation. From the September 30 Bank Statement PREVIOUS BALANCE TOTAL CHECKS AND DEBITS TOTAL DEPOSITS AND CREDITS CURRENT BALANCE 18,500 9,829 11,701 20,372 CHECKS AND DEBITS Date DEPOSITS AND CREDITS No. Amount Date Amount 09/03 5888 1,056 09/05 09/12 09/21 09/25 09/30 09/30 1,185 2,223 4,272 2,368 09/04 5902 708 09/07 09/17 5901 1,818 666NSF 09/20 5905 917 21IN 09/22 5903 437 1,632CM 09/22 09/28 09/29 5904 2,127 5907 221 5909 1,879 From Chavez Company's Accounting Records Cash Receipts Deposited Cash Date Debit Sept. 5 1,185 12 2,223 21 4,272 25 2,368 30 1,767 11,815 Cash Disbursements Cash Credit Check No. 5901 1,818 5902 708 5903 437 5904 2,088 5905 917 5906 1,048 5907 221 5908 441 5909 1,879 %24 < Prev 3. of 4 Next >
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