Ex. 1-Bank Reconciliation and Adjusting Entries The cash account of Green Co. showed a ledger balance of $8,650.90 on November 30, 2018. The bank statement as of that date showed a balance of $10,667.00. Upon comparing the statement with the cash records, the following facts were determined. There were bank service charges for November of $30. A bank memo stated that Solo's note for $1,500 and interest of $61 had been collected on November 3, and the bank had made a charge of $8 on the collection. (No entry had been made on Green's books when Solo's note was sent to the bank for collection.) Receipts for November 30 for $1,170 were not deposited until December 4. Checks outstanding on November 30 totaled $2,361.20. The bank had charged Green Co.'s account for a customer's uncollectible check amounting to $318.00 on November 29. A customer's check for $210 had been entered as $240 in the cash receipts journal by Green on November 21. Check no. 8560 in the amount of $580 had been entered in the cash journal as $850, and check no. 8572 in the amount of $688.00 had been entered as $68.80. Both checks had been issued to pay for purchases of inventory on account. 1. 2. 3. 4. 5. 6. 7. Instructions (a) Prepare a bank reconciliation dated November 30, 2018, proceeding to a correct cash balance. (b) Prepare any entries necessary to make the books correct and complete. Ex. 2-Entries for bad debt expense. A trial balance before adjustment included the following Debit $90,000 Credit Accounts receivable Allowance for doubtful accounts Sales Sales discount Sales returns and allowances 830 $350,000 3,000 8,000 Give journal entries assuming that the estimate of uncollectible is determined by taking (1) 5% of gross accounts receivable and (2) 1% of net sales