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 $1,029 and No. 5893 for $492. The following information is available for its September 30, 2017, reconciliation.
From the September 30 Bank Statement
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 $1,029 and No. 5893 for $492. The following information is available for its September 30, 2017, reconciliation. From the September 30 Bank Statement PREVIOUS BALANCE TOTAL CHECKS AND DEBITS TOTAL DEPOSITS AND CREDITS CURRENT BALANCE 16,500 9,791 11,566 18,275 CHECKS AND DEBITS Date 09/03 5888 09/04 5902 09/07 5901 DEPOSITS AND CREDITS Date 09/05 09/12 09/21 No. Amount Amount 1,029 797 1,881 1,175 2,225 4,316 2,311 634NSF 09/25 900 367 2,054 244 1,885 09/30 09/30 09/20 5905 09/22 5903 09/22 5904 09/28 5907 09/29 5909 21IN 1,518CM From Chavez Company's Accounting Records Cash Receipts Deposited Cash Debit 1,175 2,225 4,316 2,311 1,742 11,769 Date Sept. 5 12 21 25 30 Cash Disbursements Check No. 5901 5902 5903 5904 5905 5906 5907 5908 5909 Cash Credit 1,881 797 367 2,014 900 1,008 244 376 1,885 9,472 Cash Acct. No. 101 Balancee Date Explanation PR Debit Credit 14,979 26,748 17,276 Aug. 31 Balance Sept. 30 Total receipts 11,769 R12 D23 30 Total disbursements 9,472 Additional Information Check No. 5904 is correctly drawn for $2,054 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 $2,014. 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 $1,540 note for Chavez Company by the bank. The bank deducted a $22 collection fee. The collection and fee are not yet recorded Journal entry worksheet Record the entry related to the September 30 deposit, if required Note: Enter debits before credits. Date General Journal Debit Credit Sept 30 Record entry Clear entry View general journal Journal entry worksheet Record the entry related to interest earned, if required Note: Enter debits before credits. Date General Journal Debit Credit Sept 30 Record entry Clear entry View general journal Journal entry worksheet 2 3 4 6 Record the entry related to the note receivable and the collection fee, if required Note: Enter debits before credits Date General Journal Debit Credit Sept 30 Record entry Clear entry View general journal Journal entry worksheet Record the entry related to the outstanding checks, if required Note: Enter debits before credits Date General Journal Debit Credit Sept 30 Record entry Clear entry View general journal Journal entry worksheet Record the entry related to the NSF check, if required. Note: Enter debits before credits Date General Journa Debit Credit Sept 30 Record entry Clear entry View general journal Journal entry worksheet 2 4 6 Record the entry related to the error on check 5904, if required Note: Enter debits before credits. Date General Journal Debit Credit Sept 30 Record entry Clear entry View general journal
