Oscars Red Carpet Store maintains a checking account with Academy Bank Oscars sells carpet each day but makes bank deposits only once per week The following provides information from the companys cash ledger for the month ending February 28, 2021 Date Amount No Date Amount Deposits 2 4 $ 1,900 Checks 321 2 2 $ 3,900 2 11 1,500 322 2 8 550 2 18 2,400 323 2 12 1,700 2 25 3,300 324 2 19 1,400 Cash receipts 2 26 2 28 800 325 2 27 350 $ 9,900 326 2 28 850 327 2 28 1,100 Balance on February 1 $ 6,000 $ 9,850 Receipts 9,900 Disbursements (9,850 ) Balance on February 28 $ 6,050 Information from February's bank statement and company records reveals the following additional information The ending cash balance recorded in the bank statement is $9,095 Cash receipts of $800 from 2 262 28 are outstanding Checks 325 and 327 are outstanding The deposit on 2 11 includes a customer's check for $350 that did not clear the bank (NSF check) Check 323 was written for $2,500 for advertising in February The bank properly recorded the check for this amount An automatic withdrawal for Oscar's February rent was made on February 4 for $1,100 Oscar's checking account earns interest based on the average daily balance The amount of interest earned for February is $120 In January, one of Oscar's suppliers, Titanic Fabrics, borrowed $4,400 from Oscar On February 24, Titanic paid $4,650 ($4,400 borrowed amount plus $250 interest) directly to Academy Bank in payment for January's borrowing Academy Bank charged service fees of $125 to Oscars for the month Required 1 Prepare a bank reconciliation for Oscar's checking account on February 28, 2021 (Amounts to be deducted should be indicated with a minus sign Total entries to the same account together when entering in the bank reconciliation )

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Oscars Red Carpet Store maintains a checking account with Academy Bank. Oscars sells carpet each day but makes bank deposits only once per week. The

Oscars Red Carpet Store maintains a checking account with Academy Bank. Oscars sells carpet each day but makes bank deposits only once per week. The following provides information from the companys cash ledger for the month ending February 28, 2021.

	Date	Amount				No.	Date	Amount
Deposits:	2/4	$	1,900		Checks:	321	2/2	$	3,900
	2/11		1,500			322	2/8		550
	2/18		2,400			323	2/12		1,700
	2/25		3,300			324	2/19		1,400
Cash receipts:	2/26-2/28		800			325	2/27		350
		$	9,900			326	2/28		850
						327	2/28		1,100
Balance on February 1		$	6,000					$	9,850
Receipts			9,900
Disbursements			(9,850	)
Balance on February 28		$	6,050

Information from February's bank statement and company records reveals the following additional information:

The ending cash balance recorded in the bank statement is $9,095.
Cash receipts of $800 from 2/262/28 are outstanding.
Checks 325 and 327 are outstanding.
The deposit on 2/11 includes a customer's check for $350 that did not clear the bank (NSF check).
Check 323 was written for $2,500 for advertising in February. The bank properly recorded the check for this amount.
An automatic withdrawal for Oscar's February rent was made on February 4 for $1,100.
Oscar's checking account earns interest based on the average daily balance. The amount of interest earned for February is $120.
In January, one of Oscar's suppliers, Titanic Fabrics, borrowed $4,400 from Oscar. On February 24, Titanic paid $4,650 ($4,400 borrowed amount plus $250 interest) directly to Academy Bank in payment for January's borrowing.
Academy Bank charged service fees of $125 to Oscars for the month.

Required: 1. Prepare a bank reconciliation for Oscar's checking account on February 28, 2021. (Amounts to be deducted should be indicated with a minus sign. Total entries to the same account together when entering in the bank reconciliation.)