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I only need help with #5, please and thank you! Data Visualization 7-2 Bank Reconciliation You are Chlef Internal Control Officer (CICO) for Harry Byrd's

I only need help with #5, please and thank you! image text in transcribed

Data Visualization 7-2 Bank Reconciliation You are Chlef Internal Control Officer (CICO) for Harry Byrd's Chicken Shack. One of your duties Is to prepare a bank reconcillation each month to ensure proper accounting and safeguarding of cash. The bank reconcillation Involves you comparing Information In 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 ind 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 clrcle encompasses all cash transactions for the month reflected in the company's current balance of cash. Click here to open the graph(s) In a new tab. Respond to 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 entrles to adjust the company's cash balance. The EFT for $900 Includes the cost of utilitles In the current month. Answer is not complete. Complete this question by entering your answers in the tabs below. Record the entries to adjust the company's cash balance. The EFT for $900 includes the cost of utilities in the current month. Note: If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Data Visualization 7-2 Bank Reconciliation You are Chlef Internal Control Officer (CICO) for Harry Byrd's Chicken Shack. One of your duties Is to prepare a bank reconcillation each month to ensure proper accounting and safeguarding of cash. The bank reconcillation Involves you comparing Information In 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 ind 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 clrcle encompasses all cash transactions for the month reflected in the company's current balance of cash. Click here to open the graph(s) In a new tab. Respond to 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 entrles to adjust the company's cash balance. The EFT for $900 Includes the cost of utilitles In the current month. Answer is not complete. Complete this question by entering your answers in the tabs below. Record the entries to adjust the company's cash balance. The EFT for $900 includes the cost of utilities in the current month. Note: If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field

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