An examination of the cash activities during the year shows the following. Date 7/1 7/15 7/22 7/30 8/1 8/10 8/17 9/21 10/17 12/15 GREAT ADVENTURES Cash Account Records July 1, 2021, to December 31, 2021 Cash Receipts Cash Disbursements Desc. Amount Date Check# Desc. Stock sale $ 20,000 7/1 101 Insurance Clinic receipts 2,000 7/2 102 Legal fees Clinic receipts 2,300 7/7 DC Advertising Clinic receipts 4,000 7/8 103 Bikes Borrowing 30,000 7/24 DC Advertising Clinic receipts 3,000 8/4 104 Kayaks Clinic receipts 10,500 8/24 DC Office supplies Clinic receipts 13,200 9/1 105 Rent Clinic receipts 17,900 12/8 106 Race permit Race receipts 20,000 12/16 107 Salary 12/31 108 Dividend 12/31 109 Dividend $122,900 Amount $ 4,800 1,500 300 12,000 700 28,000 1,800 2,400 1,200 2,000 2,000 2,000 $58,700 Summary of Transactions Beginning Cash Balance Ending Cash Balance + July 1, 2021 $ 0 = Cash Disbursements $58,700 Cash Receipts $122,900 December 31, 2021 $64,200 Suzie has not reconciled the company's 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. Member FDIC 1124537774 Dec. 31, 2021 Ending Balance December 31, 2021 $50,500 SUMMIT BANK Leading You to the Top Account Holder: Great Adventures, Inc. Account Number: Statement Date: Account Summary Withdrawals and Beginning Balance Deposits and Credits Debits July 1, 2021 No Total No Total $0 8 $103,400 11 $52,900 Account Details Deposits and Credits Withdrawals and Debits Date Amount Desc. Date No. Amount Desc. 7/1 $ 20,000 DEP 7/1 101 $ 4,800 CHK 8/1 8,300 DEP 7/7 102 1,500 CHK 8/1 30,000 DEP 7/7 300 DC 9/1 13,500 DEP 7/14 103 12,000 CHK 9/30 200 INT 7/24 700 DC 10/1 13,200 DEP 8/9 104 CHK DEP 1,800 DC DC 12/31 300 INT 9/2 105 CHK 100 SF 12/10 106 1,200 CHK 12/31 100 SF 39,000 11,000 28,600 11/1 17,900 8/24 Daily Balance Date Amount 7/1 $15,200 7/7 13,400 7/14 1,400 7/24 21 700 8/1 8/9 8/24 9/1 2379 22,700 9/2 20,300 9/30 20,400 10/1 33,600 11/1 51,500 12/10 50,300 12/31 $50,500 9,200 2,400 9/30 $103,400 $52,900 SF Service fees Desc. DEP Customer deposit CHK Customer check INT Interest earned DC Debit card After comparing the two balances, Suzie has some concern because the bank's balance of $50,500 is substantially less than the company's balance of $64,200. 2-a. Prepare Great Adventures' bank reconciliation for the six-month period ended December 31, 2021. (Amounts to be deducted should be indicated with a minus sign. Total entries to the same account together when entering in the bank reconciliation.) GREAT ADVENTURES, INC. Bank Reconciliation December 31, 2021 Company's Cash Balance Per General Ledger Interest Earned Bank's Cash Balance Per Bank Statement Deposits Outstanding Checks Outstanding Service Fee Bank Balance Per Reconciliation Company Balance Per Reconciliation 2-b. Record any necessary entries to adjust cash. (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 carousel.) View transaction list Journal entry worksheet Record the amounts that increase cash. Note: Enter debits before credits. General Journal Debit Credit Date Dec. 31, 2021 Cash Interest Revenue Record entry Clear entry View general journal 2-b. Record any necessary entries to adjust cash. (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 carousel.) View transaction list Journal entry worksheet