Problem 4-5B Record transactions, post to the Cash T-account, and prepare the statement of cash flows LO4-7) The following information applies to the questions displayed below.] Peter loves dogs and cats. For the past several years, he has owned and operated Homeward Bound, which temporarily houses pets while their owners go on vacation. For the month of June, the company has the following transactions: 1. Junie 2 Obtain cash by borrowing $19,000 from the bank by signing a note. 2. June 3 Pay rent for the current month, $1,200. 3. June 7 Provide services to customers, 54,900 for cash and $3,200 on account. 4. June 11 Purchase cages and equipment necessary to maintain the animals, $8,100 cash. 5. June 17 Pay employees' salaries for the first half of the month, $6,200. 6. June 22 Pay dividends to stockholders, $1,475. 7. June 25 Receive cash in advance from a customer who wants to house his two dogs (Chance and Shadow) and cat (Sassy) while he goes on vacation the month of July, $1,950. 8. June 28 Pay utilities for the month, $3,000. 9. June 30 Record salaries earned by employees for the second half of the month, $6,200. Payment will be made on July 2. Lasn Fiows from Uperating Activities Cash inflows: From customers Cash outflows: For salaries For utilities For rent OOO (6,200) (3,000) (1,200) $ Net cash flows from operating activities Cash Flows from Investing Activities Purchase equipment (10.400) (8.100) (8.100) Net cash flows from investing activities Cash Flows from Financing Activities Pay dividends (1.475) Net cash flows from financing activities (1,475) Problem 4-3B Prepare the bank reconciliation and record cash adjustments (LO4-5) [The following information applies to the questions displayed below.) The cash records and bank statement for the month of July for Glover Incorporated are shown below. GLOVER INCORPORATED Cash Account Records July 1, 2021, to July 31, 2021 Cash Balance July 31, 2021 $5,740 Cash Balance July 1, Cash 2021 + Receipts $ 7,470 $8,690 Cash Receipts Date Desc. 7/9 Sales 7/21 Sales 2/31 Sales Date Cash Disbursements $10,420 Cash Disbursements Check Desc. Rent Salaries Equipment Utilities Advertising Amount $2.650 3,230 2,810 7/7 531 532 533 Amount $ 1,590 2,050 4,400 990 1,390 $10,420 535 $8,690 Member PDIC 2252790471 P.O. Box 123878 FIDELITY UNION Gotebo, OK 73041 You Can Bank On Us (580) 377-OKIE Account Holder: Glover Incorporated Account Number: 519 Main Street Gotebo, OK 73041 Statement Date: Beginning Balance Deposits and Credits Withdrawals and Debits July 1, 2021 NO. Total NO. Total $8,150 $5,939 7 $ 10,159 Deposits and Credits Withdrawals and Debits Date Amount Dese. Date No. Amount Dese. 7/10 $2,650 DEP 7/2 530 $ 680 July 31, 2021 Ending Balance July 31, 2021 $ 3.930 Daily Balance Date Amount 7/2 57, 470 CHR Member FDIC 2252790471 P.O. Box 123878 FIDELITY UNION Gotebo, OK 73041 You Can Bank On Us (580) 377-OKIE Account Holder: Glover Incorporated Account Number: 519 Main Street Gotebo, OK 73041 Statement Date: Beginning Balance Deposits and Credits Withdrawals and Debits July 1, 2021 NO. Total NO. Total $8, 150 3 $5,9397 $ 10,159 Deposits and Credits Withdrawals and Debits Date Amount Desc. Date No. Amount Desc. 7/10 $2.650 DEP 7/ 2 530 $ 680 CHK 7/22 1210 DEP 7/10 531 1,590 CHK 7/31 TNT 7/14 532 2,050 7/18 490 NSE 7/22 533 4,700 CHK 7/26 EFT 2/30 July 31, 2021 Ending Balance July 31, 2021 $ 3,930 Daily Balance Date Amount 7/2 $ 7,470 7/10 8,530 7/14 6,480 7/18 5,990 7/22 4,520 7/26 3,930 7/30 3,871 7/31 $3,930 CHK 590 $5,939 $10,159 Dese. DEP Customer deposit NOTE Note collected EFT Electronie funds transfer INT Interest earned CRK Customer check S F Service fees NSP Nonsufficient funds Additional information: a. The difference in the beginning balances in the company's records and the bank statement relates to check #530, which is outstanding as of June 30, 2021 b. Check #533 is correctly processed by the bank. c. The EFT on July 26 relates to the purchase of office supplies. 2. Record the necessary cash adjustments (if no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) Answer is not complete. No Transaction General Journal Debit Credit Cash wrest Revenue Accounts Receivable Equipment