PB5-2 Preparing a Bank Reconciliation and Journal Entries and Report The following information applies to the questions displayed below The bookkeeper at Tony Company has asked you to prepare a bank reconciliation as of February 29. The February bank statement and the February T-account for cash showed the following (summarized) BANK STATEMENT Checks Deposits Other Balance 65,600 45,800 62,300 Balance, February 1 February 2 #101 S19.800 February 4 February95 February 9 February 12 February 14 February 19 $16,500 $ 415 61,885 47,985 NSF #102 13.900 38,535 #103 9,450 9,000 57,535 45,635 63,635 54,985 #104 11,900 February 23 18,000 February 26 #105 8,650 February 27 February 28 earned 340 55,325 Service charge 55 55,270 Cash (A) 65,600 Feb. 1 Balance Feb. 2 Feb. 13 Feb. 21 Feb. 28 16,500 19,800 9,00013,900 18,0009,450 9,7001900 8,650 1,670 Feb. 1 Feb. 7 Feb. 11 Feb. 17 Feb. 25 Feb. 29 #101 #102 #103 #104 #105 #106 Feb. 29 Balance 63,430 PB5-2 Part 1 Required 1. Prepare a bank reconciliation for February. TONY COMPANY Bank Reconciliation At February 29 Bank Statement Company's Books Ending Balance Per Cash Account Ending Balance Per Bank Statement Additions: Additions: Deductions: Deductions: Up-to-Date Cash Balance Up-to-Date Cash Balance PB5-2 Part 2 2. Prepare any journal entries required as a result of the bank reconciliation. (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 3 Record the interest of $340 received from the bank. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal PB5-2 Part 2 2. Prepare any journal entries required as a result of the bank reconciliation. (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 3 Record the return of the customer check of $415 due to insufficient funds. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal PB5-2 Part 2 2. Prepare any journal entries required as a result of the bank reconciliation. (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 Record the service charges of $55 deducted by the bank Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal 3. After the reconciliation journal entries are posted, what balance will be reflected in the Cash account in the ledger? Balance in Cash Account