1.The following information is available to reconcile Sleepy Time Bedding's book balance of cash with its bank statement cash balance as of July 31:

a.	On July 31, the company's cash account has a $25,866 debit balance, but its July bank statement shows a $28,353 cash balance.
b.	Check No. 1531 for $1,524 and check No. 1540 for $756 were outstanding on the June 30 bank reconciliation. Check No. 1540 is listed with the July canceled checks, but check no. 1531 is not. Also, check no. 1565 for $540 and check no. 1569 for $2,292, both written in July, are not among the canceled checks on the July 31 statement.
c.	In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check no. 1556 for July rent was correctly written and drawn for $1,260 but was erroneously entered in the accounting records as $1,246.
d.	A credit memorandum enclosed with the July bank statement indicates the bank collected $9,700 cash on a noninterest-bearing note for Sleepy Time Bedding, deducted a $52 collection fee, and credited the remainder to its account. Sleepy Time Bedding had not recorded this event before receiving the statement.
e.	A debit memorandum for $829 lists a $815 NSF check plus a $14 NSF charge. The check had been received from a customer, Evan Shaw. Sleepy Time Bedding has not yet recorded this check as NSF.
f.	Enclosed with the July statement is a $18 debit memorandum for bank services. It has not yet been recorded because no previous notification had been received.
g.	Sleepy time bedding July 31 daily cash receipts of $10,656 were placed in the bank's night depository on that date but do not appear on the July 31 bank statement.

What is the appropriate journal entry to record the collection made by the bank?

2.A company uses the periodic inventory system and had the following activity during the current monthly period.

November 1:	Beginning inventory	116 units @ $28
November 5:	Purchased	108 units @ $30
November 8:	Purchased	58 units @ $31
November 16:	Sold	224 units @ $53
November 19:	Purchased	58 units @ $33

Using the weighted-average inventory method, the company's ending inventory would be reported at:

3.On December 31, a company needed to estimate its ending inventory to prepare its fourth quarter financial statements. The following information is currently available: Inventory as of October 1:$13,000 Net sales for fourth quarter:$39,000 Net purchases for fourth quarter:$26,000 This company typically achieves a gross profit ratio of 5%. Ending Inventory under the gross profit method would be: