4 Part 2 of 2 3.12 points eBook Print References Required information [The following information applies to the questions displayed below.] Oscar's Red Carpet Store maintains a checking account with Academy Bank. Oscar's sells carpet each day but makes bank deposits only once per week. The following provides information from the company's cash ledger for the month ending February 28, 2021. Deposits: Cash receipts: Balance on February 1 Receipts Disbursements Balance on February 28 Date 2/4 2/11 2/18 2/25 2/26-2/28 Amount $ 2,000 Checks: 1,600 2,500 3,400 900 $10,400 $ 6,100 10,400 (9,950) $ 6,550 No. Date 321 2/2 322 2/8 323 324 2/12 2/19 325 2/27 326 2/28 327 2/28 Amount $4,000 a. The ending cash balance recorded in the bank statement is $9,610. b. Cash receipts of $900 from 2/26-2/28 are outstanding. c. Checks 325 and 327 are outstanding. 450 1,800 1,500 250 750 1,200 $9,950 Information from February's bank statement and company records reveals the following additional information: d. The deposit on 2/11 includes a customer's check for $250 that did not clear the bank (NSF check). e. Check 323 was written for $2,500 for advertising in February. The bank properly recorded the check for this amount. f. An automatic withdrawal for Oscar's February rent was made on February 4 for $1,300. g. Oscar's checking account earns interest based on the average daily balance. The amount of interest earned for February is $130. h. In January, one of Oscar's suppliers, Titanic Fabrics, borrowed $4,600 from Oscar. On February 24, Titanic paid $4,750 ($4,600 borrowed amount plus $150 interest) directly to Academy Bank in payment for January's borrowing. 1. Academy Bank charged service fees of $120 to Oscar's for the month. 2. Record the necessary cash adjustments. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Total entries to the same account together when entering in the journal entry worksheet.)

Required information [The following information applies to the questions displayed below] Oscar's Red Carpet Store mointains a checking account with Academy Bank. Oscar's selis carpet each day but makes bank yeposits only once per week. The following providos information from the company's cash ledger for the month ending February 28,2021 Information trom Februarys bank statement and company records revesls the following addeional informatior a. The ending cash balsnce recorded in the bank statement is $9.610 b. Cash receipts of 5900 from 2/262/28 are outstanding. c. Checks 325 and 327 are outstanding d. The deposit on 2/t1 includes a customers check for $250 that did not clear the bank (N5f check) o. Check 323 was written for $2.500 for advertising in February. The bank properly recorded the check for this amount. f. An automstic withdrawal for Oscar's Februsty rent was made on February 4 for $1,300. 9. Oscar's checking account earns interest based an the average dally balance. The amount of interest earned for Februaty is $130 h. in January, one of Oscar's suppliers, Ttanic Fabrics, bortowed $4,600 from Oscar. On February 24, Titanic pald $4,750 (\$4,600 borrowed amount plus $150 interest) directly to Academy Bank in payment for January's bortowing 1 Academy Bsrik charged service fees of $120 to Oscar's tor the month. 2. Record the nccessary cash ad,ustments, of no entry is required for a transstion/event, select "No Journal Cntry Aequired" in the 2. first account field. Total entries to the same account together when entering in the joumal entry worksheet) 1 Record the amounts that increase cash. 2 Record the amounts that decrease cash. Note : O = journal entry has been entered