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 36,000 7/24 DC Advertising clinic receipts 3,000 8/4 104 Kayaks clinic receipts 10,500 8/24 Office supplies Clinic receipts 13,800 9/1 105 Rent clinic receipts 18,500 12/8 106 Race permit Race receipts 20,000 12/16 107 Salary 12/31 108 Dividend 12/31 109 Dividend $130, 100 DC Amount $ 5,520 1,800 360 11,000 760 36,400 1,860 3,120 1,260 2,000 2,000 2,000 $68,080 Summary of Transactions Beginning Cash Balance Ending Cash Balance + - July 1, 2021 $ 0 Cash Receipts $ 130, 100 Cash Disbursements $68,080 = December 31, 2021 $ 62,020 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 SUMMIT BANK Leading You to the Top Great Adventures, Inc. Account Holder: Account Number: Statement Date: 1124537774 Dec. 31, 2021 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 $ 48,320 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 $110,600 11 $62,280 Account Details Deposits and Credits withdrawals and Debits Date Amount Desc. Date No. Amount Desc. 7/1 $ 20,000 DEP 7/1 101 $ 5,520 CHK 8/1 8,300 DEP 7/7 102 1,800 CHK 8/1 36,000 DEP 7/7 360 DC 9/1 13,500 DEP 7/14 103 11,000 CHK 9/30 200 INT 7/24 760 10/1 13,800 DEP 8/9 104 36,400 CHK 11/1 18,500 DEP 8/24 1,860 12/31 300 INT 9/2 105 3,120 CHK 9/30 100 SF 12/10 1,260 CHK 12/31 100 DC Daily Balance Date Amount 7/1 $14,480 7/7 12,320 7/14 1,320 7/24 560 8/1 44,860 8/9 8,460 8/24 6,600 9/1 20,100 9/2 16,980 9/30 17,080 10/1 30,880 11/1 49,380 12/10 48,120 12/31 $48,320 DC 106 SF $110,600 $62,280 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 $48,320 is substantially less than the company's balance of $62,020. 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.) Bank's Cash Balance GREAT ADVENTURES, INC. Bank Reconciliation December 31, 2021 Company's Cash Balance $ 48,320 Per General Ledger $ Interest Earned Service Fee 62,020 Per Bank Statement Deposits Outstanding Checks Outstanding 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. Date General Journal Debit Credit Dec. 31, 2021 Cash Interest Revenue Record entry Clear entry View general journal