Bank Reconciliation The following data were gathered to use in reconciling the bank account of Bradford Company: Balance per bank 18,050 9,635 3,400 Balance per company records Bank service charges Deposit in transit Note collected by bank with $140 interest Outstanding checks 5,450 6,390 a. What is the adjusted balance on the bank reconciliation? Feedback Check My Work a. Set up two sections: one for the company cash account section and the other for the bank balance section. Determine the effect of the data on each section. Recall that when you are finished, the adjusted balances in the bank and company sections of the reconciliation must be equal. If not, an item been overlooked or treated in error. Learning Objective 5. b. Journalize any necessary entries for Bradford Company based on the bank reconciliation. For a compound transaction, if an amount ! does not require an entry, leave it blank. Miscellaneous Expense Cash Cash Notes Receivable Interest Revenue Feedback Check My Work Petty Cash Fund Prepare journal entries for each of the following. For a compound transaction, if an amount box does not require an entry, leave it blank. a. Issued a check to establish a petty cash fund of $450. Petty Cash Cash Feedback Check My Work a. Recall that the only time Petty Cash is used is when the fund is initially established or increased. Learning Objective 6. b. The amount of cash in the petty cash fund is $150. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $175 and miscellaneous selling expense, $111. Record any missing funds in the cash short and over account. For a compound transaction, if an amount box does not require an entry, leave it blank. Store Supplies Miscellaneous Selling Expense Cash Short and Over Cash Feedback Check My Work b. Remember that at all times, the petty cash on hand and the receipts must equal the amount of the petty cash fund. Any difference will be recorded as Cash Short and Over when the fund is replenished. In making the journal entry, Petty Cash is not debited when the fund is replenished. Instead, the accounts affected by the petty cash disbursements are debited. Learning Objective 6. Feedback Check My Work Partially correct