Required information Problem 6-5A Preparing a bank reconciliation and recording adjustments LO P3 [The following information applies to the questions displayed below) 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 $1,028 and No. 5893 for $494. 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 16,800 TOTAL CHECKS AND DEBITS 9.617 TOTAL DEPOSITS AND CREDITS 11,270 CURRENT BALANCE 18,453 Date 09/03 09/04 09/07 09/17 09/20 89/22 09/22 09/28 09/29 CHECKS AND DEBITS No. Amount 5888 1,028 5902 719 5901 1,824 600 NSF 5905 937 5903 399 5984 2,090 5907 213 5909 1,807 DEPOSITS AND CREDITS Date Amount 09/85 1, 103 09/12 2,226 09/21 4,093 09/25 2,351 09/30 12 IN 09/30 1,485 CM From Chavez Company's Accounting Records Cash Receipts Deposited Cash Date Debit Sept. 5 1,103 12 2,226 21 4,093 25 2,351 30 1.682 11,455 Cash Payments Cash Chock No. Credit 5901 1,824 5902 719 5983 399 5904 2,060 5905 937 5906 982 5907 213 5908 388 5909 1,80z 9,329 Additional Information (a) 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. (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 $1,485 note for Chavez Company by the bank. The collection is not yet recorded olem 6-5A Part 1 Hequired: 1. Prepare the September 30 bank reconciliation for this company CHAVEZ COMPANY Bank Reconciliation Bank statement balance [Add September 30 Book balance Add 0 0 . Deduct Deduct 0 0 $ Adjusted book balance Adjusted bank balance Problem 6-5A 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.) View transaction list Journal entry worksheet 1 2 3 4 5 6 > Record the entry related to the September 30 deposit, if required Note: Enter debits before credits Date General Journal Debit Credit Sopt 30 Cash Payments Cash Check No Credit 5901 1,824 5992 719 5903 399 5904 2,060 5905 5906 982 5907 213 5908 388 5909 1.507 9,329 937 PR Debit Cash Dat Explanation Aug 31 Balance Sept. 30 Total receipts 30 Total payments Acet. No. 101 Credit Balance 15,278 26.733 9,329 17,404 11,455 R12 023 Additional Information (a) 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. (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 $1,485 note for Chavez Company by the bank. The collection is not vet recorded 12 13 of 14 Next > Prey