Prepare the September 30 bank reconciliation for this company.
Prepare journal entries to adjust the book balance of cash to the reconciled balance.
Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it re two checks outstanding, No. 5888 for $1,028.05 and No. 5893 for $494.25. The following information is availab September 30 reconciliation. From the September 30 Bank Statement PREVIOUS BALANCE TOTAL CHECKS AND ND DEBITS 9,620.05 TOTAL DEPOSITS AND CREDITS 11,272.85 CURRENT BALANCE 18, 453.25 16,800.45 DEPOSITS AND CHECKS AND DEBITS CREDITS Date No. Amount Date Amount 09/03 5888 1,028.05 09/05 1,103.75 09/04 5902719.90 09/12 2,226.90 09/07 5901 1,824.25 09/21 4,093.00 09/17 600.25 NSF 09/25 2,351.70 09/20 5905 937.00 09/30 12.50 IN 09/22 5903 399.10 09/30 1,485.00 CM 09/22 5904 2,090.00 09/285907213.85 09/29 5909 1,807.65 From Chavez Company's Accounting Records ! Cash Receipts Deposited Cash Date Debit Sep. 5 1,103.75 2,226.90 4,093.00 2,351.70 1,682.75 11,458.10 Cash Disbursements Check Cash No. Credit 5901 1,824.25 5902 719.90 5903 399.10 5904 2,060.00 5905 937.00 5906 982.30 5907 213.85 5908 388.00 5909 1,807.65 9,332.05 Date Cash Explanation PR Debit Acct. No. 101 Credit Balance 15,278.15 Aug. Balance 30 Total receipts R12 11,458.19 26,736.25 3e Total disbursements D23 9,332.95 17,404.20 Additional Information 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. 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. The credit memorandum (CM) is from the collection of a $1,500 note for Chavez Company by the bank. The bank deducted a $15 collection expense. The collection and expense are not yet recorded Required: 1. Prepare the September 30 bank reconciliation for this company. (Round your answers to 2 decimal places.) CHAVEZ COMPANY Ch Cash Date Explanation PR Debit Aug. Balance Acct. No. 101 Credit Balance 15,278.15 31 Balance Sep. 3e R12 11,458.10 26,736.25 Total receipts Total disbursements 3e 023 9,332.65 17,404.20 Additional Information 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. 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. The credit merlorandum (CM) is from the collection of a $1.500 note for Chavez company by the bank. The bank deducted a $15 collection expense. The collection and expense are not yet recorded. 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. Round your answers to 2 decimal places View transaction list
