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The following information is available for the Victor Company for its March 31 bank reconciliation: From the March 31 bank statement: Previous Balance Total Checks and Debits

Total Deposits and Credits

Current Balance $9,908 $7,805 $11,905 $14,008 Checks and Debits Deposits and Credits Daily Balance Date No. Amount Date Amount Date Amount 03/03 2874 1,210 03/02 4,340 03/01 9,908 03/11 2906 3,850 03/27 7,270 03/02 14,248 03/15 2905 170 03/31 295 IN 03/03 1,038 03/25 2909 725 03/11 9,188 03/29 2908 1,350 03/15 9,018 03/30 500 NSF 03/25 8,293 03/27 15,563 03/29 14,213 03/30 13,713 03/31 14,008

NSF: A check from a customer, Booker Co. in payment of their account. IN: Interest earned on the account. From the Victor Company's accounting records: Cash Receipts Deposited Date Cash Debit March 7 4,340 27 7,270 31 2,090 13,700

Cash Disbursements =

Cash Disbursements Check No. Cash Debit 2905 170 2906 3,850 2907 460 2908 1,350 2909 725 2910 340 6,895

Cash Acct. No. 101 Date Explanation PR Debit Credit Balance February 28 Balance 8,698 March 31 Total receipts R4 13,700 22,398 31 Total disbursements D5. 6,895 15,503

1. Based on the above information, prepare a bank reconciliation for the Victor Company. 2. Prepare the necessary general journal entries to adjust cash to the reconciled balance.

7)A company established a petty cash fund in April of the current year and experienced the following transactions affecting the fund during April. Prepare journal entries to establish the fund on April 1, to replenish it on April 25, and to record the increase in the fund on April 25. April 1Prepared a company check for $300.00 to establish the petty cash fund. 25. Prepared a company check to replenish the fund for the following expenditures made since April 1. Paid $84.50 for cleaning services.

Paid $84.00 for postage expense. Paid $103.15 for office supplies. Counted $23.35 remaining in the petty cash box. 25 The company decides to increase the fund by $100.

Prepare general journal entries for the following transactions of Norman Company, assuming they use the allowance method to account for uncollectible accounts. Apr 01 Sold $3,500 of merchandise to Lance Co., receiving an 8%, 90-day, $3,500 note. 15 Wrote off $1,500 owed by Guy Co. from a previous period sale. 30 Received a $5,000, 6%, 30-day note receivable from James Co. as settlement for its $5,000 account receivable. May 30 The note received from James on April 30 was collected in full. Jun 30 Lance Co. was unable to pay the note on the due date. Jul 15 Guy Co. paid $1,000 of the amount written off on April 15.

9) Bonita Company estimates uncollectible accounts using the allowance method at December 31. It prepared the following aging of receivables analysis.

Days Past. Due

Total Current 1 to 30 31 to 60 61 to 90 Over 90 Accounts receivable $110,000 68,000 17,000 10,000 8,000 7,000 Percent uncollectible 1% 2% 5%. 8% 13% a. Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method. b. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $550 credit. c. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $300 debit.