PLEASE HELP
Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, No. 5888 for $1,077 and No. 5893 for $518. 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 19,500 TOTAL CHECKS AND DEBITS 9,825 TOTAL DEPOSITS AND CREDITS 11,870 CURRENT BALANCE 21,545 CHECKS AND DEBITS Date No. Amount 09/03 5888 1,077 09/04 5902 771 09/07 5901 1,889 09/17 609 NSF. 09/20 5905 902 09/22 5903 396 09/22 5904 2,074 09/28 5907 241 09/29 5909 1,866 DEPOSITS AND CREDITS Date Amount 09/05 1,142 09/12 2,277 09/21 4,373 09/25 2,365 09/30 23 IN 09/30 1,690 CM From Chavez Company's Accounting Records Cash Receipts Deposited Cash Date Debit Sept. 5 1,142 12 2,277 21 4,373 25 2,365 30 1,748 11,905 Cash Payments Cash Check No. Credit 5901 1,889 5902 771 5903 396 5904 2,034 5905 902 5906 1,042 5907 241 5908 380 5909 1,866 9,521 PR Debit Credit Cash Date Explanation Aug. 31 Balance Sept. 30 Total receipts 30 Total payments Acct. No. 101 Balance 17,905 29,810 20,289 11, 905 R12 D23 9,521 Additional Information (a) Check No. 5904 is correctly drawn for $2,074 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 $2,034. (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 $1,690 note for Chavez Company by the bank. The collection is not yet recorded. Problem 8-5A Part 2 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.) Journal entry worksheet Record the entry related to the September 30 deposit, if required. Note: Enter debits before credits. General Journal Debit Credit Date Sept 30 Record entry Clear entry View general journal Journal entry worksheet Record the entry related to interest earned, if required. Note: Enter debits before credits. Date General Journal Debit Credit Sept 30 Record entry Clear entry View general journal Journal entry worksheet Record the entry related to the note receivable and the collection, if required. Note: Enter debits before credits. Date General Journal Debit Credit Sept 30 Record entry Clear entry View general journal Journal entry worksheet Record the entry related to the outstanding checks, if required. Note: Enter debits before credits. General Journal Debit Credit Date Sept 30 Record entry Clear entry View general journal Journal entry worksheet Record the entry related to the NSF check, if required. Note: Enter debits before credits. Date General Journal Debit Credit Sept 30 Record entry Clear entry View general journal Journal entry worksheet Record the entry related to the error on check 5904, if required. Note: Enter debits before credits. Date General Journal Debit Credit Sept 30 Record entry Clear entry View general journal
