Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, No 5888 for $1,035 and No 5893 for $499 The following information is available for its September 30, 2015, reconciliation Additional Information Check No 5904 is correctly drawn for $2,124 to pay for computer equipment however, the recordkeeper misread the amount and entered it in the accounting records with a debit to Computer Equipment and a credit to Cash of $2,079 The NSF check shown in the statement was originally received from a customer, S Nilson, in payment of her account Its return has not yet been recorded by the company The credit memorandum is from the collection of a $1,500 note for Chavez Company by the bank The bank deducted a $19 collection fee The collection and fee are not yet recorded 2 Prepare the journal entries to adjust the book balance of cash to the reconciled balance (If no entry is required for a transaction event, select No journal entry required in the first account field ) From the September 30 Bank Statement PREVIOUS BALANCE 19,000 TOTAL CHECKS AND DEBITS 9,900 TOTAL DEPOSITS AND CREDITS 11,656 CURRENT BALANCE 20,756 Date 09 03 09 04 09 07 09 17 18,296 09 20 09 22 09 22 09 28 09 29 CHECKS AND DEBITS DEPOSITS AND CREDITS DAILY BALANCE No Amount Date Amount Date Amount 5888 1,035 09 05 1,117 08 31 19,000 5902 786 09 12 2,232 09 03 17,965 5901 1,885 09 21 4,427 09 04 17,179 606 NSF 09 25 2,382 09 05 5905 976 09 30 17 IN 09 07 16,411 5903 377 09 30 1,481 CM 09 12 18,643 5904 2,124 09 17 18,037 5907 253 09 20 17,061 5909 1,858 09 21 21,488 09 22 18,987 09 25 21,369 09 28 21,116 19,258 09 30 20,756 09 29 From Chavez Company's Accounting Records Cash Receipts Deposited Cash Date Debit Sept 5 1,117 12 2 232 21 4,427 25 2 382 30 1,782 11,940 Cash Disbursements Cash Check No Credit 5901 1 885 5902 786 5903 377 5904 2,079 5905 976 5906 958 5907 253 5908 434 5909 1,858 9,606 PR Debit Credit Cash Date Explanation Aug 31 Balance Sept 30 Total receipts 30 Total disbursements Acct No 101 Balance 17,466 29,406 19,800 11,940 R12 D23 9,606

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Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, No. 5888 for

Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, No. 5888 for $1,035 and No. 5893 for $499. The following information is available for its September 30, 2015, reconciliation.

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Additional Information

Check No. 5904 is correctly drawn for $2,124 to pay for computer equipment; however, the recordkeeper misread the amount and entered it in the accounting records with a debit to Computer Equipment and a credit to Cash of $2,079. The NSF check shown in the statement was originally received from a customer, S. Nilson, in payment of her account. Its return has not yet been recorded by the company. The credit memorandum is from the collection of a $1,500 note for Chavez Company by the bank. The bank deducted a $19 collection fee. The collection and fee are not yet recorded.

2.	Prepare the journal entries to adjust the book balance of cash to the reconciled balance. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

From the September 30 Bank Statement PREVIOUS BALANCE 19,000 TOTAL CHECKS AND DEBITS 9,900 TOTAL DEPOSITS AND CREDITS 11,656 CURRENT BALANCE 20,756 Date 09/03 09/04 09/07 09/17 18,296 09/20 09/22 09/22 09/28 09/29 CHECKS AND DEBITS DEPOSITS AND CREDITS DAILY BALANCE No. Amount Date Amount Date Amount 5888 1,035 09/05 1,117 08/31 19,000 5902 786 09/12 2,232 09/03 17,965 5901 1,885 09/21 4,427 09/04 17,179 606 NSF 09/25 2,382 09/05 5905 976 09/30 17 IN 09/07 16,411 5903 377 09/30 1,481 CM 09/12 18,643 5904 2,124 09/17 18,037 5907 253 09/20 17,061 5909 1,858 09/21 21,488 09/22 18,987 09/25 21,369 09/28 21,116 19,258 09/30 20,756 09/29 From Chavez Company's Accounting Records Cash Receipts Deposited Cash Date Debit Sept. 5 1,117 12 2.232 21 4,427 25 2.382 30 1,782 11,940 Cash Disbursements Cash Check No. Credit 5901 1.885 5902 786 5903 377 5904 2,079 5905 976 5906 958 5907 253 5908 434 5909 1,858 9,606 PR Debit Credit Cash Date Explanation Aug. 31 Balance Sept. 30 Total receipts 30 Total disbursements Acct. No. 101 Balance 17,466 29,406 19,800 11,940 R12 D23 9,606