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The cash data of Eddy Automotive for October 2021 follow: : (Click the icon to view the checkbook.) Eddy Automotive received the following bank statement
The cash data of Eddy Automotive for October 2021 follow: : (Click the icon to view the checkbook.) Eddy Automotive received the following bank statement on October 31, 2021: (Click the icon to view the bank statement.) A (Click the icon to view the additional data for the bank reconciliation.) Read the requirements. C... Requirement 1. Prepare the Eddy Automotive bank reconciliation at October 31, 2021. Prepare the Bank side of the bank reconciliation, then prepare the Book side of the bank reconciliation. (Include the balances at October 31 in each of the addition subtotal calculations. If an input field is not used in the table, leave the field empty; do not select a label or enter a zero.) Eddy Automotive Bank Reconciliation October 31, 2021 Bank: Add: Subtotal Less: Check No. II Data Table Cash Date Item Jrnl. Ref. Debit Balance October 1 31 Account No. 101 Credit Balance 7,950 17,280 10,122 7,158 CR 6 9,3301 31 CP 11 Cash Receipts (CR) Cash Payments (CP) Cash Credit $ Date Cash Debit October 2 $ 2,828 8 597 10 1,652 16 837 360 29 904 30 2,152 9,330 Total Check No. 3113 3114 3115 3116 3117 1,542 1,729 1,830 47 782 22 3118 169 3119 478 3120 1,023 3121 234 3122 2,288 $ Total 10,122 Data Table $ 7,950 8,374 Bank Statement for October 2021 Beginning balance Deposits and other additions: October 1 600 EFT 4 2,828 9 597 12 1,652 17 837 22 360 23 1,500 BC Checks and other deductions: October 7 1,542 13 1,380 14 419 US 15 1,729 18 47 21 441 EFT 26 782 30 169 30 10 SC (6,519) 9.805 More Info Additional data for the bank reconciliation include the following: a. The EFT deposit was a receipt of monthly rent. The EFT debit was a monthly insurance payment b. The unauthorized signature check was received from a customer and returned by the bank unpaid. The correct amount of check number 3115, a payment on account, is $1,380. (Eddy Automotive's accountant mistakenly recorded the check as $1,830.) d. The bank collected a note receivable for Eddy Automotive. C. Requirements 1. Prepare Eddy Automotive's bank reconciliation at October 31, 2021. 2. Prepare the journal entries required at October 31, 2021. 3. Describe how a bank account and the bank reconciliation help the general manager control Eddy Automotive's cash
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