Required information

Problem 8-5A 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 $1,026 and No. 5893 for $518. The following information is available for its September 30, 2017, reconciliation.

From the September 30 Bank Statement

PREVIOUS BALANCE	TOTAL CHECKS AND DEBITS	TOTAL DEPOSITS AND CREDITS	CURRENT BALANCE
19,500	9,768	11,581	21,313

CHECKS AND DEBITS					DEPOSITS AND CREDITS
Date	No.	Amount			Date	Amount
09/03	5888	1,026			09/05	1,114
09/04	5902	714			09/12	2,257
09/07	5901	1,813			09/21	4,376
09/17		628	NSF		09/25	2,308
09/20	5905	926			09/30	14	IN
09/22	5903	406			09/30	1,512	CM
09/22	5904	2,118
09/28	5907	257
09/29	5909	1,880

From Chavez Companys Accounting Records

Cash Receipts Deposited
Date		Cash Debit
Sept.	5		1,114
	12		2,257
	21		4,376
	25		2,308
	30		1,729
			11,784

Cash Disbursements
Check No.		Cash Credit
5901			1,813
5902			714
5903			406
5904			2,079
5905			926
5906			1,042
5907			257
5908			390
5909			1,880
			9,507

Cash			Acct. No. 101
Date	Explanation	PR	Debit	Credit	Balance
Aug. 31	Balance				17,956
Sept. 30	Total receipts	R12	11,784		29,740
30	Total disbursements	D23		9,507	20,233

Additional Information Check No. 5904 is correctly drawn for $2,118 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 $2,079. 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 is from the collection of a $1,530 note for Chavez Company by the bank. The bank deducted a $18 collection fee. The collection and fee are not yet recorded.

Journal Entry Worksheet

Record the entry related to the September 30 deposit, if required.

Record the entry related to interest earned, if required.

Record the entry related to the note receivable and the collection fee, if required.

Record the entry related to the outstanding checks, if required.

Record the entry related to the NSF check, if required.

Record the entry related to the error on check 5904, if required.

Date

General Journal

Debit

Credit

Sept 30

*Enter debits before credits

Journal Entry Worksheet

Record the entry related to the September 30 deposit, if required.

Record the entry related to interest earned, if required.

Record the entry related to the note receivable and the collection fee, if required.

Record the entry related to the outstanding checks, if required.

Record the entry related to the NSF check, if required.

Record the entry related to the error on check 5904, if required.

Date

General Journal

Debit

Credit

Sept 30

*Enter debits before credits

Journal Entry Worksheet

Record the entry related to the September 30 deposit, if required.

Record the entry related to interest earned, if required.

Record the entry related to the note receivable and the collection fee, if required.

Record the entry related to the outstanding checks, if required.

Record the entry related to the NSF check, if required.

Record the entry related to the error on check 5904, if required.

Date

General Journal

Debit

Credit

Sept 30

*Enter debits before credits

Journal Entry Worksheet

Record the entry related to the September 30 deposit, if required.

Record the entry related to interest earned, if required.

Record the entry related to the note receivable and the collection fee, if required.

Record the entry related to the outstanding checks, if required.

Record the entry related to the NSF check, if required.

Record the entry related to the error on check 5904, if required.

Date

General Journal

Debit

Credit

Sept 30

*Enter debits before credits

Journal Entry Worksheet

Record the entry related to the September 30 deposit, if required.

Record the entry related to interest earned, if required.

Record the entry related to the note receivable and the collection fee, if required.

Record the entry related to the outstanding checks, if required.

Record the entry related to the NSF check, if required.

Record the entry related to the error on check 5904, if required.

Date

General Journal

Debit

Credit

Sept 30

*Enter debits before credits

Journal Entry Worksheet

Record the entry related to the September 30 deposit, if required.

Record the entry related to interest earned, if required.

Record the entry related to the note receivable and the collection fee, if required.

Record the entry related to the outstanding checks, if required.

Record the entry related to the NSF check, if required.

Record the entry related to the error on check 5904, if required.

Date

General Journal

Debit

Credit

Sept 30

*Enter debits before credits