An examination of the cash activities during the year shows the following.

GREAT ADVENTURES
Cash Account Records
July 1, 2021, to December 31, 2021
Cash Receipts					Cash Disbursements
Date	Desc.	Amount			Date	Check#	Desc.	Amount
7/1	Stock sale	$	20,000		7/1	101	Insurance	$	4,800
7/15	Clinic receipts		2,000		7/2	102	Legal fees		1,500
7/22	Clinic receipts		2,300		7/7	DC	Advertising		300
7/30	Clinic receipts		4,000		7/8	103	Bikes		12,000
8/1	Borrowing		30,000		7/24	DC	Advertising		700
8/10	Clinic receipts		3,000		8/4	104	Kayaks		28,000
8/17	Clinic receipts		10,500		8/24	DC	Office supplies		1,800
9/21	Clinic receipts		13,200		9/1	105	Rent		2,400
10/17	Clinic receipts		17,900		12/8	106	Race permit		1,200
12/15	Race receipts		20,000		12/16	107	Salary		2,000
					12/31	108	Dividend		2,000
					12/31	109	Dividend		2,000
		$	122,900					$	58,700

	Summary of Transactions
	Beginning												Ending
	Cash Balance												Cash Balance
	July 1, 2021			+	Cash Receipts				Cash Disbursements			=	December 31, 2021
	$	0			$	122,900			$	58,700			$	64,200

Suzie has not reconciled the companys cash balance with that of the bank since the company was started. She asks Summit Bank to provide her with a six-month bank statement. To save time, Suzie makes deposits at the bank only on the first day of each month.

SUMMIT BANK

Member FDIC

Leading You to the Top

Account Holder:

Great Adventures, Inc.

Account Number:

1124537774

Statement Date:

Dec. 31, 2021

Account Summary

Beginning Balance

Deposits and Credits

Withdrawals and Debits

Ending Balance

July 1, 2021

No

Total

No

Total

December 31, 2021

$0

8

$103,400

11

$52,900

$50,500

Account Details

Deposits and Credits

Withdrawals and Debits

Daily Balance

Date

Amount

Desc.

Date

No.

Amount

Desc.

Date

Amount

7/1

$

20,000

DEP

7/1

101

$

4,800

CHK

7/1

$

15,200

8/1

8,300

DEP

7/7

102

1,500

CHK

7/7

13,400

8/1

30,000

DEP

7/7

300

DC

7/14

1,400

9/1

13,500

DEP

7/14

103

12,000

CHK

7/24

700

9/30

200

INT

7/24

700

DC

8/1

39,000

10/1

13,200

DEP

8/9

104

28,000

CHK

8/9

11,000

11/1

17,900

DEP

8/24

1,800

DC

8/24

9,200

12/31

300

INT

9/2

105

2,400

CHK

9/1

22,700

9/30

100

SF

9/2

20,300

12/10

106

1,200

CHK

9/30

20,400

12/31

100

SF

10/1

33,600

11/1

51,500

12/10

50,300

$

103,400

$

52,900

12/31

$

50,500

Desc.	DEP Customer deposit	INT Interest earned	SF Service fees
	CHK Customer check	DC Debit card

After comparing the two balances, Suzie has some concern because the banks balance of $50,500 is substantially less than the companys balance of $64,200.

1. Record any necessary entries to adjust cash. (Record amounts that increase cash and amounts decrease cash - two entries)