Date 7/1 7/15 7/22 7/30 8/1 8/10 8/17 9/21 10/17 12/15 GREAT ADVENTURES Cash Account Records July 1, 2021, to December 31, 2021 Cash Receipts Cash Disbursements Desc. Amount Date Check Desc. Stock sale $ 25,000 7/1 101 Insurance Clinic receipts 2,000 7/2 102 Legal fees Clinic receipts 1,840 7/7 DC Advertising Clinic receipts 5,500 7/8 103 Bikes Borrowing 40,000 7/24 DC Advertising Clinic receipts 4,000 8/4 104 Kayaks Clinic receipts 11,200 8/24 DC Office supplies Clinic receipts 14,200 9/1 105 Rent Clinic receipts 18,900 12/8 106 Race permit Race receipts 12,000 12/16 107 Salary 12/31 108 Dividend 12/31 199 Dividend $134,640 Amount $ 6,000 2,000 400 13,000 800 42,000 1,900 3,600 1,300 1,800 2,500 2,500 $77,800 Summary of Transactions Beginning Cash Balance July 1, 2021 $ Ending Cash Balance December 31, 2021 $56,840 + Cash Receipts $134,640 - Cash Disbursements = $77,800 Suzie has not reconciled the company's cash balance with that of the bank since the company was started. She asks Summit Bank to provide her with a six-month bank statement. To save time, Suzie makes deposits at the bank only on the first day of each month. Member FDIC 1124537774 Dec. 31, 2021 Ending Balance December 31, 2021 $51,740 Amount SUMMIT BANK Leading You to the Top Account Holder: Great Adventures, Inc. Account Number: Statement Date: Account Summary Beginning Balance Deposits and Credits Withdrawals and Debits July 1, 2021 No Total No Total $0 8 $123,040 11 $71,300 Account Details Deposits and Credits Withdrawals and Debits Date Desc. Date No. Amount Desc. 7/1 $ 25,000 DEP 7/1 101 $ 6,000 CHK 8/1 9,340 DEP 7/7 102 2,000 CHK 8/1 40,000 DEP 7/7 400 DC 9/1 15,200 DEP 7/14 103 13,000 CHK 9/30 300 INT 7/24 800 DC 10/1 14,200 DEP 8/9 104 42,000 CHK 11/1 DEP 8/24 1,900 DC 12/31 100 INT 9/2 3,600 CHK 9/30 150 SF 12/10 106 1,300 CHK 12/31 150 SF 18,900 Daily Balance Date Amount 7/1 $19,000 7/7 16,600 7/14 3,600 7/24 2,800 8/1 52,140 8/9 10, 140 8/24 8, 240 9/1 23,440 9/2 19,840 9/30 19,999 10/1 34,190 11/1 53,090 12/10 51,790 12/31 $51,740 105 $123, 040 $71,300 SF Service fees Desc. DEP Customer deposit CHK Customer check INT Interest earned DC Debit card After comparing the two balances, Suzie has some concern because the bank's balance of $51,740 is substantially less than the company's balance of $56,840. 2-a. Prepare Great Adventures' bank reconciliation for the six-month period ended December 31, 2021. (Amounts to be deducted should be Indicated with a minus sign. Total entries to the same account together when entering in the bank reconciliation.) GREAT ADVENTURES, INC. Bank Reconciliation December 31, 2021 Company's Cash Balance Per General Ledger Bank's Cash Balance Per Bank Statement Bank Balance Per Reconciliation Company Balance Per Reconciliation 2-b. Record any necessary entries to adjust cash. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the first account field. Total entries to the same account together when entering in the journal entry carousel.) View transaction list Journal entry worksheet Record the amounts that increase cash. Note: Enter debits before credits. Date General Journal Debit Credit Dec. 31, 2021 Record entry Clear entry View general journal View transaction list Journal entry worksheet