Required information [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 $1,089 and No. 5893 for $487. The following information is available for its September 30, 2017, reconciliation From the September 30 Bank Statement PREVIOUS BALANCE TOTAL CHICKS AND DESYTS TOTAL DEPOSITS AND CREDITS 20,000 9.946 11,561 CURRENT BALANCE 21,615 CHECKS AND DEBITS DEPOSITS AND CREDITS Date No. Amount Date Amount 09/03 5888 09/05 1,180 09/04 5902 737 09/12 2,242 09707 5901 1,846 09/21 4,152 09/17 687NST 09/25 2,339 09/20 5905 953 09/30 12IN 09/22 5903 426 09/30 1,636CM 09/22 5904 2,055 09/20 5907 261 09/29 5909 1,892 From Chavez Company's Accounting Records Cash Receiptu Deposited Dato Sept. 5 12 21 25 30 Cash Debit 1,180 2,242 4,152 2,339 1.239 11,652 Canh Disbursements Cash Check No. Credit 5901 1,846 5902 737 5903 426 5904 2,014 5905 953 5906 951 5907 261 5908 380 5909 1,892 9,460 PR Debit Cash Date Explanation Aug. 31 Balance Sept. 30 Total receipts 30 Total disbursements Acct. No. 101 Credit Balance 18,424 30,076 9,460 20,616 11,652 R12 D23 Additional Information Check No. 5904 is correctly drawn for $2,055 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 $2,014. 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 $1,660 note for Chavez Company by the bank. The bank deducted a $24 collection fee. The collection and fee are not yet recorded Required: 1. Prepare the September 30, 2017, bank reconciliation for this company. CHAVEZ COMPANY Bank Reconciliation September 30, 2017 has not yet been recorded by the company. The credit memorandum is from the collection of a $1,660 note for Chavez Company by the bank. The bank deducted a $24 collection fee. The collection and fee are not yet recorded. Required: 1. Prepare the September 30, 2017, bank reconciliation for this company. CHAVEZ COMPANY Bank Reconciliation September 30, 2017 Book balance Add: Bank statement balance Add: 0 0 0 0 Deduct: Deduct: 4 0 0 Adjusted book balance 0 0 $ $ Adjusted bank balanco 2. Prepare the 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
