Chavez Company most recently reconciled its bank state ment and book balances of cash on August 31 and it reported two checks outstanding, No. 5888 for $1,028 and No. 5893 for $494. Check No. 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation. From the September 30 Bank Statement PREVIOUS BALANCE TOTAL CHECKS AND DEBITS TOTAL DEPOSITS AND CREDITS CURRENT BALANCE 16, 80e 9,617 18,453 11,27e CHECKS AND DEPOSITS AND CREDITS DEBITS Date No. Amount Date Amount 09/03 5888 1,028 1,103 2,226 4,093 2,351 12 IN 1,485 CM 09/05 e9/12 e9/21 e9/25 9/38 e9/30 09/04 e9/e7 e9/17 09/20 09/22 e9/22 e9/28 09/29 5902 719 5901 1,824 6 NSF 5905 937 5903 399 5904 2,e9e 5907 213 5989 1,807 From Chavez Company's Accounting Records Cash Receipts Deposited Cash Date Debit Sept. 5 1,103 2,226 4,e93 2,351 12 21 25 From Chavez Company's Accounting Records Cash Receipts Deposited Cash Debit Date Sept. 5 1,1e3 2,226 4,093 2,351 1,682 11,455 12 21 25 30 Cash Payments Cash Check No. 5901 59e2 5903 5904 59es Credit 1,824 719 399 2,ese 937 5906 982 5907 213 5908 388 ces 5909 1,807 9,329 Cash Acct. No. 101 Credit Balance 15,278 26,733 17,404 Explanation Aug. 31 Balance Date Debit PR Sept. 30 Total receipts R12 11,455 30 Total payments D23 9,329 Additional Information (a) Check No. 5904 is correctly drawn for $2,090 to pay for computer equipment, however, the recordkeeper misread the amount and entered it in the accounting records with a debit to Computer Equipment and a credit to Cash of $2.060 (hi The NSE cherk shown Additional Information (a) Check No. 5904 is correctly drawn for $2,090 to pay for computer equipment; however, the recordkeeper misread the amount and entered it in the accounting records with a debit to Computer Equipment and a credit to Cash of $2,060. (b) The NSF check shown in the statement was originally received from a customer, S. Nilson, in payment of her account. Its return has not yet been recorded by the company. (c) The credit memorandum (CM) is from the collection of a $1,485 note for Chavez Company by the bank. The collection is not yet recorded Required: 1. Prepare the September 30 bank reconciliation for this company. CHAVEZ COMPANY Bank Reconciliation September 30 Bank statement balance Book balance Add: Add: 0 0 0 0 Deduct: Deduct 0 Adjusted bank balance $ 0 Adjusted book balance 0 2. Prepare journal entries to adjust the book balance of cash to the reconciled balance. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet
