Master Electronics had a computer failure on April 1. 2020 which resulted in the loss of data including the balance of its Cash account and its bank reconciliation from March 31 2020 The accountant, Bill Danita, has been able to obtain the following information from the records of the company and its bank (Click the icon to view records a-b.) (Click the icon to view records c-g) Required 1. Prepare a bank reconciliation as of Apnl 30 2020 including the calculation of the book balance of April 30 2020 2. Prepare all journal entries that would be required by the bank reconciliation Test: Midterm 2 Questio Master Electronics had a computer failure on April 1, 2020, which resulted in the loss of data, including the balance of its Cash information from the records of the company and its bank. (Click the icon to view records a-b.) (Click the icon to view records c-g.) Required 1. Prepare a bank reconciliation as of April 30, 2020, including the calculation of the book balance of April 30, 2020 2. Prepare all jour entries that would be required by the bank reconciliation. Requirement 1. Prepare a bank reconciliation as of April 30, 2020, including the calculation of the book balance of April 30, 2 Prepare the bank section of the bank reconciliation. Then, prepare the book section of the bank reconciliation (Use parenth Master Electronics con to vi g the ca ank reco a. An examination showed that two cheques (#244 for $350 00 and #266 for $644 00) had not been cashed as of April 1 Danila recalled that there was only one deposit in transit on the March 31 bank reconciliation but was unable to recall the amount b. The cash receipts and cash payments journals contained the following entries for April 2020 Cash Receipts: Cash Payments: 2020, Amounts Cheque# Amount $ 920.00 275 $ 310.00 pare the punts ic 1,820.00 276 480.00 3,800 00 277 525 00 2,010 00 278 890.00 760.00 279 620 00 $ 9 310 00 280 4,500.00 281 void 282 540 00 283 1.800 00 S 9.665 00 the icon to v c The company's bank provided the following statement as of April 30, 2020 cluding the ca the bank recol Date Cheques and Other Debits Deposits and Other Credits Balance Apr 1 #276 480.00 2,500 00 6,900 00 2 #266 644 00 5 #1277 525 00 6,256 00 5,731 00 6,651 00 ril 30, 2020, 920 00 en, prepare the 14 #275 punt 310.00 1,600 00 onics 17 EFT 570 00 7,941 00 7,371 00 7,811 00 iation 19 EFT 440.00 20 22 #279 620.00 1.820 00 9,011 00 22 #280 4,590 00 EFT 1,196 00 5617 00 24 EFT 505 00 6.122 00 27 NSE 890 00 3 800 00 9,032 00 28 SC 40 00 8.99200 30 #283 1.800 00 2010 00 9 202 00 d The deposit made on April 14 was for the collection of a note receivable ($1 540 00) plus interest TV v Tuo cluding the ca the bank reco il 30, 2020, En, prepare the pun nics lation 17 EFT 570.00 7,371 00 19 EFT 440.00 7,811.00 22 #279 620.00 1,820.00 9,011 00 22 #280 4,590.00 EFT 1,196.00 5,617.00 24 EFT 505.00 6,122 00 27 NSF 890.00 3,800.00 9,032.00 28 SC 40.00 8,992 00 30 #283 1,800.00 2,010 00 9,202 00 d. The deposit made on April 14 was for the collection of a note receivable ($1,540 00) plus interest e The electronic funds transfers (EFTs) had not yet been recorded by Master Electronics because the bank statement was the first notification of them The April 17 EFT was for the monthly payment on an insurance policy for Master Electronics The April 19 and 24 EFTs were collections on accounts receivable The April 22 EFT was in error-the transfer should have been to Master Horse Farm f The NSF cheque on April 27 was received from a customer as payment for electronics purchased for $890 00 g Cheque #280 was correctly written for $4 590 00 for the purchase of inventory (assume a periodic system) but incorrectly recorded by the cash payments clerk 20 . Requirement 1. Prepare a bank reconciliation as of April 30 2020 including the calculation of the book balance of Apnl 30 2020 Prepare the bank section of the bank reconciliation Then prepare the book section of the bank reconciliation (Use parentheses or a minus sign when subtracting numbers. Enter all amounts in two decimal places.) Master Electronics Bank Reconciliation April 30 2020 BANK Add Less Cheque No Time Remaining ENG US B 0 L ) Master Electronics Bank Reconciliation April 30, 2020 BANK Add Less Cheque No Prepare the bank section of the bank reconciliation. Then, prepare the book section of the bank reconcilia Master Electronics Bank Reconciliation April 30, 2020 BANK They Adjusted bank balance, April 30, 2020 Balance, April 30, 2020 Correction of bank error Deposits in transit Outstanding cheques: BOOKS Add Less Requirement 2. Prepare all journal entries that would be required by the bank reconciliation Record the collection of the note receivable and related interest (Record debits first, then credits. Exclude explanations Journal Entry BOOKS Adjusted book balance, April 30, 2020 Balance, April 30, 2020 Bank collection of accounts receivable Bank collection of note receivable incl. interest Correction of book error Requireme Kreconciliation Insurance payment Record the its first, then credits. Exclude expl NSF cheque Date Credit Service charge = Test: Mid Adjusted book balance, April 30, 2020 of data, including the balan .) Master Electronics information from the (Click the icoi Required 1. Prepare a bank r 2. Prepare all journi Balance, April 30, 2020 ook balance of April 30, 20 Bank collection of accounts receivable Bank collection of note receivable incl. interest Correction of book error BOOKS Insurance payment Add NSF cheque Service charge Less Required 1. Prepare & 2. Prepare & of the book balance of A Adjusted book balance, April 30, 2020 Balance, April 30, 2020 BOOKS Bank collection of accounts receivable Bank collection of note receivable incl. interest Correction of book error Insurance payment NSF cheque Service charge Requirement 2. Prepare all journal entries that would be required by the bank reconciliation Record the collection of the note receivable and related interest (Record debits first, then credits. BOOKS Adjusted bank balance, April 30, 2020 Balance, April 30, 2020 Correction of bank error Deposits in transit Outstanding cheques: Requirement 2. Prepare all journal entries that would be required by the bank reconciliation Record the collection of the note receivable and related interest (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Date Accounts Debit Credit Apr Record the collection of the accounts receivable (Enter amounts to two decimal places.) Journal Entry Date Accounts Debit Credit Apr Record the collection of the accounts receivable (Enter amounts to two decimal places.) Journal Entry Date Accounts Debit Credit Apr Record the NSF cheques (Enter amounts to two decimal places.) Journal Entry Date Accounts Debit Credit Apr Record the insurance payment (Enter amounts to two decimal places.) Journal Entry Date Accounts Debit Credit Apr Record the correction of the book error Journal Entry Date Accounts Debit Credit Apr Record the correction of the book error Journal Entry Date Accounts Debit Credit Apr Record the service charge assessed by the bank (Enter amounts to two decimal places.) Journal Entry Date Accounts Debit Credit Apr Journal Entry Date Accounts Debit Crec Apr Thing Accounts Receivable Record the servi Bank Charges Expense unts to two decimal place: Cash Date Debit Credit Apr Interest Earned Insurance Expense Notes Receivable Purchases Master Electronics had a computer failure on April 1. 2020 which resulted in the loss of data including the balance of its Cash account and its bank reconciliation from March 31 2020 The accountant, Bill Danita, has been able to obtain the following information from the records of the company and its bank (Click the icon to view records a-b.) (Click the icon to view records c-g) Required 1. Prepare a bank reconciliation as of Apnl 30 2020 including the calculation of the book balance of April 30 2020 2. Prepare all journal entries that would be required by the bank reconciliation Test: Midterm 2 Questio Master Electronics had a computer failure on April 1, 2020, which resulted in the loss of data, including the balance of its Cash information from the records of the company and its bank. (Click the icon to view records a-b.) (Click the icon to view records c-g.) Required 1. Prepare a bank reconciliation as of April 30, 2020, including the calculation of the book balance of April 30, 2020 2. Prepare all jour entries that would be required by the bank reconciliation. Requirement 1. Prepare a bank reconciliation as of April 30, 2020, including the calculation of the book balance of April 30, 2 Prepare the bank section of the bank reconciliation. Then, prepare the book section of the bank reconciliation (Use parenth Master Electronics con to vi g the ca ank reco a. An examination showed that two cheques (#244 for $350 00 and #266 for $644 00) had not been cashed as of April 1 Danila recalled that there was only one deposit in transit on the March 31 bank reconciliation but was unable to recall the amount b. The cash receipts and cash payments journals contained the following entries for April 2020 Cash Receipts: Cash Payments: 2020, Amounts Cheque# Amount $ 920.00 275 $ 310.00 pare the punts ic 1,820.00 276 480.00 3,800 00 277 525 00 2,010 00 278 890.00 760.00 279 620 00 $ 9 310 00 280 4,500.00 281 void 282 540 00 283 1.800 00 S 9.665 00 the icon to v c The company's bank provided the following statement as of April 30, 2020 cluding the ca the bank recol Date Cheques and Other Debits Deposits and Other Credits Balance Apr 1 #276 480.00 2,500 00 6,900 00 2 #266 644 00 5 #1277 525 00 6,256 00 5,731 00 6,651 00 ril 30, 2020, 920 00 en, prepare the 14 #275 punt 310.00 1,600 00 onics 17 EFT 570 00 7,941 00 7,371 00 7,811 00 iation 19 EFT 440.00 20 22 #279 620.00 1.820 00 9,011 00 22 #280 4,590 00 EFT 1,196 00 5617 00 24 EFT 505 00 6.122 00 27 NSE 890 00 3 800 00 9,032 00 28 SC 40 00 8.99200 30 #283 1.800 00 2010 00 9 202 00 d The deposit made on April 14 was for the collection of a note receivable ($1 540 00) plus interest TV v Tuo cluding the ca the bank reco il 30, 2020, En, prepare the pun nics lation 17 EFT 570.00 7,371 00 19 EFT 440.00 7,811.00 22 #279 620.00 1,820.00 9,011 00 22 #280 4,590.00 EFT 1,196.00 5,617.00 24 EFT 505.00 6,122 00 27 NSF 890.00 3,800.00 9,032.00 28 SC 40.00 8,992 00 30 #283 1,800.00 2,010 00 9,202 00 d. The deposit made on April 14 was for the collection of a note receivable ($1,540 00) plus interest e The electronic funds transfers (EFTs) had not yet been recorded by Master Electronics because the bank statement was the first notification of them The April 17 EFT was for the monthly payment on an insurance policy for Master Electronics The April 19 and 24 EFTs were collections on accounts receivable The April 22 EFT was in error-the transfer should have been to Master Horse Farm f The NSF cheque on April 27 was received from a customer as payment for electronics purchased for $890 00 g Cheque #280 was correctly written for $4 590 00 for the purchase of inventory (assume a periodic system) but incorrectly recorded by the cash payments clerk 20 . Requirement 1. Prepare a bank reconciliation as of April 30 2020 including the calculation of the book balance of Apnl 30 2020 Prepare the bank section of the bank reconciliation Then prepare the book section of the bank reconciliation (Use parentheses or a minus sign when subtracting numbers. Enter all amounts in two decimal places.) Master Electronics Bank Reconciliation April 30 2020 BANK Add Less Cheque No Time Remaining ENG US B 0 L ) Master Electronics Bank Reconciliation April 30, 2020 BANK Add Less Cheque No Prepare the bank section of the bank reconciliation. Then, prepare the book section of the bank reconcilia Master Electronics Bank Reconciliation April 30, 2020 BANK They Adjusted bank balance, April 30, 2020 Balance, April 30, 2020 Correction of bank error Deposits in transit Outstanding cheques: BOOKS Add Less Requirement 2. Prepare all journal entries that would be required by the bank reconciliation Record the collection of the note receivable and related interest (Record debits first, then credits. Exclude explanations Journal Entry BOOKS Adjusted book balance, April 30, 2020 Balance, April 30, 2020 Bank collection of accounts receivable Bank collection of note receivable incl. interest Correction of book error Requireme Kreconciliation Insurance payment Record the its first, then credits. Exclude expl NSF cheque Date Credit Service charge = Test: Mid Adjusted book balance, April 30, 2020 of data, including the balan .) Master Electronics information from the (Click the icoi Required 1. Prepare a bank r 2. Prepare all journi Balance, April 30, 2020 ook balance of April 30, 20 Bank collection of accounts receivable Bank collection of note receivable incl. interest Correction of book error BOOKS Insurance payment Add NSF cheque Service charge Less Required 1. Prepare & 2. Prepare & of the book balance of A Adjusted book balance, April 30, 2020 Balance, April 30, 2020 BOOKS Bank collection of accounts receivable Bank collection of note receivable incl. interest Correction of book error Insurance payment NSF cheque Service charge Requirement 2. Prepare all journal entries that would be required by the bank reconciliation Record the collection of the note receivable and related interest (Record debits first, then credits. BOOKS Adjusted bank balance, April 30, 2020 Balance, April 30, 2020 Correction of bank error Deposits in transit Outstanding cheques: Requirement 2. Prepare all journal entries that would be required by the bank reconciliation Record the collection of the note receivable and related interest (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Date Accounts Debit Credit Apr Record the collection of the accounts receivable (Enter amounts to two decimal places.) Journal Entry Date Accounts Debit Credit Apr Record the collection of the accounts receivable (Enter amounts to two decimal places.) Journal Entry Date Accounts Debit Credit Apr Record the NSF cheques (Enter amounts to two decimal places.) Journal Entry Date Accounts Debit Credit Apr Record the insurance payment (Enter amounts to two decimal places.) Journal Entry Date Accounts Debit Credit Apr Record the correction of the book error Journal Entry Date Accounts Debit Credit Apr Record the correction of the book error Journal Entry Date Accounts Debit Credit Apr Record the service charge assessed by the bank (Enter amounts to two decimal places.) Journal Entry Date Accounts Debit Credit Apr Journal Entry Date Accounts Debit Crec Apr Thing Accounts Receivable Record the servi Bank Charges Expense unts to two decimal place: Cash Date Debit Credit Apr Interest Earned Insurance Expense Notes Receivable Purchases