Problem 9.4A (Static) Preparing a bank reconciliation statement and journalizing entries to adjust the cash balance. LO 9-5, 9-6 On August 31, 20x1, the balance in the checkbook and the Cash account of the Sonoma Creek Bed and Breakfast was $13,031. The balance shown on the bank statement on the same date was $13,997 Notes a. The firm's records indicate that a $1,600 deposit dated August 30 and a $601 deposit dated August 31 do not appear on the bank statement b. A service charge of $28 and a debit memorandum of $230 covering an NSF check have not yet been entered in the firm's records. (The check was issued by Andy Stein, a credit customer.) c. The following checks were issued but have not yet been paid by the bank: Check 712, Check 713 Check 716, Check 736, Check 739. Check 741, $120 $130 $250 $577 $ 78 $120 d. A credit memorandum shows that the bank collected a $2,095 note receivable and interest of $55 for the firm. These amounts have not yet been entered in the firm's records. Required: 1. Prepare a bank reconciliation statement for the firm as of August 31 2. Record general journal entries for items on the bank reconciliation statement that must be journalized. Analyze: What effect did the Journal entries recorded as a result of the bank reconciliation have on the fundamental accounting equation? Complete this question by entering your answers in the tabs below. Bank Rec General Journal Analyse Prepare a bank reconciliation statement for the firm as of August 31. Bank Rec General Journal Analyze Prepare a bank reconciliation statement for the firm as of August 31. SONOMA CREEK BED AND BREAKFAST Bank Reconciliation Statement August 31, 20X1 Balance on bank statement Additions: 0 $ 0 Deductions: 0 Total deductions Adjusted bank balance 0 Balance in books Additions: 0 $ 0 Deductions: 0 Adjusted book balance $ 0 Complete this question by entering your answers in the tabs below. Bank Rec General Journal Analyze Record general journal entries for items on the bank reconciliation statement that must be journalized. (If no entry is required for a particular transaction, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet 4 5 Record the deposit in transit Note: Enter debits before credits. Dato General Journal Debit Credit Aug. 31, 20X1 Record entry Clear entry View general journal Bank Rec General Journal Analyze Record general journal entries for items on the bank reconciliation statement that must be journalized. (If no entry is required for particular transaction, select "No Journal entry required in the first account field.) View transaction list Journal entry worksheet Bank Rec General Journal Analyze Record general journal entries for items on the bank reconciliation statement that must be journalized. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 3 4 > Record the returned check. Note: Enter debits before credits. Date General Journal Debit Credit Aug 31, 20X1 Record entry Clear entry View general journal Bank Rec General Journal Analyze Record general journal entries for items on the bank reconciliation statement that must be journalized. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Bank Rec General Journal Analyze Record general journal entries for items on the bank reconciliation statement that must be journalized. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Check 712, Check 713, Check 716, Check 736, Check 739, Check 741, $120 $130 $250 $577 $ 78 $120 d. A credit memorandum shows that the bank collected a $2,095 note receivable and interest of $55 for the firm. These amounts have not yet been entered in the firm's records. Required: 1. Prepare a bank reconciliation statement for the firm as of August 31 2. Record general journal entries for items on the bank reconciliation statement that must be journalized Analyze: What effect did the journal entries recorded as a result of the bank reconciliation have on the fundamental accounting equation? Complete this question by entering your answers in the tabs below. General Bank Rec Journal Analyze What effect did the journal entries recorded as a result of the bank reconciliation have on the fundamental accounting equation? Net effect