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Required information [The following information applies to the questions displayed below. Oscar's Red Carpet Store maintains a checking account with Academy Bank. Oscar's sells carpet

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Required information [The following information applies to the questions displayed below. Oscar's Red Carpet Store maintains a checking account with Academy Bank. Oscar's sells carpet each day but makes bank deposits only once per week. The following provides information from the company's cash ledger for the month ending February 28, 2021. Date Amount Deposits: No. Date Amount 2/4 s 2,000 Checks:321 1,600 2, 500 3,400 $4,090 : 322 2/121, 2/2 450 323 2/12 1,800 324 2/19 1,500 2/18 2/25 2/26-2/28 Cash receipts: 900 325 2/27 250 $10,400 326 2/28 750 327 2/28 1,200 Balance on February 1 s 6,100 $9,950 Receipts Disbursements 10,400 (9.95e) $ 6,550 Balance on February 28 Information from February's bank statement and company records reveals the following additional information: a. The ending cash balance recorded in the bank statement is $9.610 b. Cash receipts of $900 from 2/26-2/28 are outstanding c. Checks 325 and 327 are outstanding d. The deposit on 2/11 includes a customEr's check for $250 that did not clear the bank (NSF check) e. Check 323 was written for $2,500 for advertising in February. The bank properly recorded the check for this amount. f. An automatic withdrawal for Oscar's February rent was made on February 4 for $1.300 g. Oscar's checking account earns interest based on the average daily balance. The amount of interest earned for February is $130 h. I n January, one of Oscar's suppliers. Titanic Fabrics, borrowed $4.600 from Oscar On February 24, Titanic paid $4,750($4,600 borrowed amount Acedemy Bank in payment for January's borrowing i. Acedemy Bank charged service fees of $120 to Oscar's for the month plus $150 interest) directly to nme ol s2,300 for advertising in February. The bank properly recorded the check for this amount. An utomatic withdrawal for Oscar's February rent was made on February 4 for $13 Oscar's checking account earns interest based on the average daily balance. The amount of interest earned for February is $130 . In January, one of Oscar's suppliers, Titanic Fabrics, borrowed $4.600 from Oscar. O February 24, Titanic paid $4,750 ($4,600 borrowed amount plus $150 interest) diredti Academy Bank in payment for January's borrowing i. Academy Bank charged service fees of $120 to Oscar's for the month. d the necessary cash adjustments. (If no entry is required for a transaction/event, select nal Entry Required" in the first account field. Total entries to the same account together wh ering in the journal entry worksheet.) ecor View transaction list Journal entry worksheet 2 Record the amounts that increase cash. Note: Enter debits before credits

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