Deposits: Date 2/4 2/11 2/18 2/25 2/26-2/28 Amount $ 1,850 Checks: 1,450 2,350 3,250 750 $ 9,650 No. 321 322 323 324 325 Date 2/2 2/8 2/12 2/19 2/27 2/28 2/28 Cash receipts: Amount $3,850 600 1,650 1,350 400 900 1,050 $9,800 326 327 Balance on February 1 Receipts Disbursements Balance on February 28 $ 5,950 9,650 (9,800) $ 5,800 Information from February's bank statement and company records reveals the following additional information: a. The ending cash balance recorded in the bank statement is $8,395, b. Cash receipts of $750 from 2/26-2/28 are outstanding. c. Checks 325 and 327 are outstanding. d. The deposit on 2/11 includes a customer's check for $400 that did not clear the butik (NSF check). e. Check 323 was written for $2,500 for advertising in February. The bank properly recorded the check for this f. An automatic withdrawal for Oscar's February rent was made on February 4 for $1,300. g. Oscar's checking account earns interest based on the average daily balance. The amount of interest earned for February is $115. h. In January, one of Oscar's suppliers, Titanic Fabrics, borrowed $4,300 from Oscar. On February 24, Titanic paid $4,450 ($4,300 borrowed amount plus $150 interest) directly to Academy Bank in payment for January's borrowing. 1. Academy Bank charged service fees of $120 to Oscar's for the month. amount Deposits: Date 2/4 2/11 2/18 2/25 2/26-2/28 Amount $ 1,850 Checks: 1,450 2,350 3,250 750 $ 9,650 No. 321 322 323 324 325 Date 2/2 2/8 2/12 2/19 2/27 2/28 2/28 Cash receipts: Amount $3,850 600 1,650 1,350 400 900 1,050 $9,800 326 327 Balance on February 1 Receipts Disbursements Balance on February 28 $ 5,950 9,650 (9,800) $ 5,800 Information from February's bank statement and company records reveals the following additional information: a. The ending cash balance recorded in the bank statement is $8,395, b. Cash receipts of $750 from 2/26-2/28 are outstanding. c. Checks 325 and 327 are outstanding. d. The deposit on 2/11 includes a customer's check for $400 that did not clear the butik (NSF check). e. Check 323 was written for $2,500 for advertising in February. The bank properly recorded the check for this f. An automatic withdrawal for Oscar's February rent was made on February 4 for $1,300. g. Oscar's checking account earns interest based on the average daily balance. The amount of interest earned for February is $115. h. In January, one of Oscar's suppliers, Titanic Fabrics, borrowed $4,300 from Oscar. On February 24, Titanic paid $4,450 ($4,300 borrowed amount plus $150 interest) directly to Academy Bank in payment for January's borrowing. 1. Academy Bank charged service fees of $120 to Oscar's for the month. amount
