newconnect.mheducation.com5 Homework iSavedHelpBANK STATEMENTDateChecksDepositsOtherBalanceDec. 1$50,40042,76070,19055,29091,29090,72088,80088,86088,6906 7,64011570 $28,00014,900172336,000265703020,60019,000NSF*$32031Interest earned6031Service charge170NSF check from J. Left, a customer.Cash (A)Dec. 1 Balance50,400DepositsChecks written during December:Dec. 1128,00036,00019,00013,0007,640235703014,9003157017020,6004,80097,150Dec. 31 BalanceThere were no deposits in transit or outstanding checks at November 30.5. After the reconciliation journal entries are posted, what balance will be reflected in the Cash account in the ledger?6. If the company also has $320 of petty cash on hand, which is recorded in a different account called Petty Cash on Hand, what totalamount of Cash and Cash Equivalents should be reported on the December 31 balance sheet?5. Balance in Cash Account$236. Total Amount of Cash and Cash EquivalentsNext>( Prevof 10PIIgoF9F6F8F7F5F4F2&%#762543 newconnect.mheducation.com5 HomeworkiSavedCash (A)Dec. 1 Balance50,400DepositsChecks written during December:7,640Dec. 1128,00036,00019,00013,000235703014,90043157017020,6004,800Dec. 31 Balance97,150There were no deposits in transit or outstanding checks at November 30.4. Prepare any journal entries that the company should make as a result of the bank reconciliation. (If no entry is required for atransaction/event, select "No Journal Entry Required" in the first account field.)View transaction listView journal entry worksheetXNoTransactionGeneral JournalDebitCreditACash60Interest Revenue60B2Service Revenue170Cash170Accounts ReceivableC3320Cash320No Journal Entry RequiredD4No Journal Entry RequiredE< PrevNext>34of 10NacBook ProB0F7FBF6FSFDF2F4%5&2768tLO3LLI

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Asked Oct 8, 2019
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newconnect.mheducation.com
5 Homework i
Saved
Help
BANK STATEMENT
Date
Checks
Deposits
Other
Balance
Dec. 1
$50,400
42,760
70,190
55,290
91,290
90,720
88,800
88,860
88,690
6 7,640
11
570 $28,000
14,900
17
23
36,000
26
570
30
20,600
19,000
NSF*
$320
31
Interest earned
60
31
Service charge
170
NSF check from J. Left, a customer.
Cash (A)
Dec. 1 Balance
50,400
Deposits
Checks written during December:
Dec. 11
28,000
36,000
19,000
13,000
7,640
23
570
30
14,900
31
570
170
20,600
4,800
97,150
Dec. 31 Balance
There were no deposits in transit or outstanding checks at November 30.
5. After the reconciliation journal entries are posted, what balance will be reflected in the Cash account in the ledger?
6. If the company also has $320 of petty cash on hand, which is recorded in a different account called Petty Cash on Hand, what total
amount of Cash and Cash Equivalents should be reported on the December 31 balance sheet?
5. Balance in Cash Account
$
23
6. Total Amount of Cash and Cash Equivalents
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newconnect.mheducation.com 5 Homework i Saved Help BANK STATEMENT Date Checks Deposits Other Balance Dec. 1 $50,400 42,760 70,190 55,290 91,290 90,720 88,800 88,860 88,690 6 7,640 11 570 $28,000 14,900 17 23 36,000 26 570 30 20,600 19,000 NSF* $320 31 Interest earned 60 31 Service charge 170 NSF check from J. Left, a customer. Cash (A) Dec. 1 Balance 50,400 Deposits Checks written during December: Dec. 11 28,000 36,000 19,000 13,000 7,640 23 570 30 14,900 31 570 170 20,600 4,800 97,150 Dec. 31 Balance There were no deposits in transit or outstanding checks at November 30. 5. After the reconciliation journal entries are posted, what balance will be reflected in the Cash account in the ledger? 6. If the company also has $320 of petty cash on hand, which is recorded in a different account called Petty Cash on Hand, what total amount of Cash and Cash Equivalents should be reported on the December 31 balance sheet? 5. Balance in Cash Account $ 23 6. Total Amount of Cash and Cash Equivalents Next> ( Prev of 10 PII go F9 F6 F8 F7 F5 F4 F2 & % # 7 6 2 5 4 3

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newconnect.mheducation.com
5 Homeworki
Saved
Cash (A)
Dec. 1 Balance
50,400
Deposits
Checks written during December:
7,640
Dec. 11
28,000
36,000
19,000
13,000
23
570
30
14,900
4
31
570
170
20,600
4,800
Dec. 31 Balance
97,150
There were no deposits in transit or outstanding checks at November 30.
4. Prepare any journal entries that the company should make as a result of the bank reconciliation. (If no entry is required for a
transaction/event, select "No Journal Entry Required" in the first account field.)
View transaction list
View journal entry worksheet
X
No
Transaction
General Journal
Debit
Credit
A
Cash
60
Interest Revenue
60
B
2
Service Revenue
170
Cash
170
Accounts Receivable
C
3
320
Cash
320
No Journal Entry Required
D
4
No Journal Entry Required
E
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newconnect.mheducation.com 5 Homeworki Saved Cash (A) Dec. 1 Balance 50,400 Deposits Checks written during December: 7,640 Dec. 11 28,000 36,000 19,000 13,000 23 570 30 14,900 4 31 570 170 20,600 4,800 Dec. 31 Balance 97,150 There were no deposits in transit or outstanding checks at November 30. 4. Prepare any journal entries that the company should make as a result of the bank reconciliation. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet X No Transaction General Journal Debit Credit A Cash 60 Interest Revenue 60 B 2 Service Revenue 170 Cash 170 Accounts Receivable C 3 320 Cash 320 No Journal Entry Required D 4 No Journal Entry Required E < Prev Next> 3 4 of 10 NacBook Pro B0 F7 FB F6 FS FD F2 F4 % 5 & 2 7 6 8 t LO 3 LLI

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Expert Answer

Step 1

4.

Prepare journal entries that the company should make as a result of the bank reconciliation.

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Debit Credit Accounts title and explanation Date ($) (S) 60 Cash 60 Interest revenue (To record the interest received from bank 170 Bank Service Charge 170 Cash (To record the bank fee charged by bank ) C 320 Accounts Receivable 320 Cash (To record NSF checks from customer)

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Step 2

5.

Prepare general ledger of cash account to know the e...

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General ledger Cash Account Debit Credit Balance Beginning balance Deposits Checks $97,150 $193,150 $143,900 $143,960 $143,790 $96,000 $49,250 Interest earned $60 Bank service fee $170 $320 Customer NSF $143,470 Hence, after the reconciliation, $143,470 cash balance will be reflected in the Cash account in the ledger

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