As of June 30, Year 1 the bank statement showed an ending balance of $16,108. The unadjusted Cash account balance was $15,379 The following information is available 1. Deposit in transit, $2.865 2. Credit memo in bank statement for interest earned in June 510 3. Outstanding check $3,596 4. Debit memo for service charge 512 Required Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 1 using the preceding information (Negative amounts should be indicated with minus sign.) Bank Reconciliation Unadjusted bank balance 6/30/Year 1 True cash balance 6/30/Year 1 $ 0 Unadjusted book. balance 6/30/Yeart True cash balance 6/30/Yes! Rainey Enterprises lowed 550,000 to Small Co on June 1 Yeart for one year at 9 percent interest Required Show the effects of the following transactions in a horizontal statements model (Enter any decreases to account balances and cash outflows with a minus sign. For changes on the Statement of Cash Flows, indicate whether the item is an operating activity (OA). investing activity (1A), or financing activity (FA). Not all cells require input. Do not round intermediate calculations. Round your final answers to the nearest whole dollar) (1) The loan to Smail Co (2) The adjustment at December 31 Year 1 (3) The adjustment and collection of the note on June 1 Year 2 RAINIY ENTERPRISES Horizontal Statement Model Balance Sheet Liais Income Statement Stockholders Equity Retained Havenue Earning Statement of Cash Flows Cash Receivable Receivable Expense Net income 1/1 2 12/31/1 36/1/w 2 Adjustment 6/1/Your 2 Note Collection The following information is available for Market, Inc and Supply, Inc. at December 31 Accounts Accounts receivable Allowance for doubtful accounts Sales revenue Market, Inc. $ 56,200 2,348 666,960 supply. Inc. $ 79,60 2,456 927,120 Required a. What is the accounts receivable turnover for each of the companies? b. What is the average days to collect the receivables? c. Assuming both companies use the percent of receivables allowance method, what is the estimated percentage of uncollectible accounts for each company? Complete this question by entering your answers in the tabs below. Required a Required B Required What is the accounts receivable turnover for each of the companies? (Round your answers to 1 decimal place.) Accounts Receivable Company Turnover Market Supply times Required B > times