Data Visualization 4-1 Bank Reconciliation Part of your duties as the company's Chief Internal Control Officer (CICO) is to prepare a bank reconciliation each month to ensure proper accounting and safeguarding of cash. The bank reconciliation involves you comparing information in the bank statement to information in the company's cash records. At the beginning of the month, both the bank and the company had a beginning cash balance of $23,470. . By the end of the month, the bank statement shows a month-end cash balance of $20,680, while the company's records indicate a month-end cash balance of $24,820. The left circle encompasses all cash transactions for the month reflected in the bank's balance of cash. . The right circle encompasses all cash transactions for the month reflected in the company's current balance of cash. Bank's records: Deposits and credits $1,000 NOTE $50 INT $5,860 Sales $6,240 Sales $7,720 Sales Company's records: Cash receipts Bank's records: Withdrawals and Debits $700 NSF $900 EFT $3,690 EFT $1,900 Check #532 $4,180 EFT $1,800 Check #534 Company's records: Cash disbursements $70 SF $2,400 Check #535 $4,500 Check #533 Click here to open graph in separate window. Answer the following questions (Use the following codes: DEP = deposits; EFT = electronic funds transfer; INT = interest earned; NOTE = note collected; NSF = non sufficient funds; SF = service fees): Required: 1. Which transactions are shown in the intersection of the two circles? 2. Which transactions are not yet reflected in the company's cash records? 3. Which transactions are not yet reflected in the bank's cash records for July? 4. Calculate the bank's adjusted balance of cash and the company's adjusted balance of cash (Hint: Begin with the month-end balances of cash in the bank statement and company records in the given information above). 5. Record the entries to adjust the company's cash balance. The EFT for $900 includes the cost of utilities in the current month. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Calculate the bank's adjusted balance of cash and the company's adjusted balance of cash (Hint: Begin with the month-end balances of cash in the bank statement and company records in the given information above). Adjusted cash balance Bank Company < Required 3 Required 5 > Bank's records: Deposits and credits $50 INT IL 31,120 dies $6,240 Sales Bank's records: $3,690 EFT $700 NSF $1,800 Check #534 Withdrawals and Debits $1,900 Check #532 $900 EFT $4,180 EFT $70 SF $2,400 Check #535 $4,500 Check #533 Company s Cash rec Company Cash disbu Click here to open graph in separate window. Answer the following questions (Use the following codes: DEP = deposits; EFT = electronic funds trans = note collected; NSF = non sufficient funds; SF = service fees): Required: 1. Which transactions are shown in the intersection of the two circles? 2. Which transactions are not yet reflected in the company's cash records? 3. Which transactions are not yet reflected in the bank's cash records for July? 4. Calculate the bank's adjusted balance of cash and the company's adjusted balance of cash (Hint: Be balances of cash in the bank statement and company records in the given information above). 5. Record the entries to adjust the company's cash balance. The EFT for $900 includes the cost of utili Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Record the entries to adjust the company's cash balance. The EFT for $900 includes the cost of utilities in is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the entry for cash received against notes receivable along with interest. Note: Enter debits before credits. Event 1 General Journal Debit Credit Record entry Clear entry View general journal < Required 4 Required 5 > Bank's records: Deposits and credits $1,000 NOTE $50 INT $5,860 Sales $6,240 Sales $7,720 Sales Bank's records: Withdrawals and Debits $700 NSF $3,690 EFT $900 EFT $1,900 Check #532 $4,180 EFT $1,800 Check #534 $70 SF $2,400 Check #535 $4,500 Check #533 Company's records: Cash receipts Company's records: Cash disbursements Click here to open graph in separate window. Answer the following questions (Use the following codes: DEP = deposits; EFT = electronic funds transfer; INT = interest earned; NOTE = note collected; NSF = non sufficient funds; SF = service fees): Required: 1. Which transactions are shown in the intersection of the two circles? 2. Which transactions are not yet reflected in the company's cash records? 3. Which transactions are not yet reflected in the bank's cash records for July? 4. Calculate the bank's adjusted balance of cash and the company's adjusted balance of cash (Hint: Begin with the month-end balances of cash in the bank statement and company records in the given information above). 5. Record the entries to adjust the company's cash balance. The EFT for $900 includes the cost of utilities in the current month. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Record the entries to adjust the company's cash balance. The EFT for $900 includes the cost of utilities in the current month. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 Record the entry for cash paid against accounts receivable, utilities and service fees. Note: Enter debits before credits. Event 2 General Journal Debit Credit Record entry Clear entry View general journal