[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 Deposits: Cash receipts: Balance on February 11 Receipts Disbursements Balance on February 28 ences Date Amount No Datel 2/4 $ 2,450 Checks: 321 2/2 Amount $ 4,450 2/11 2,050 322 2/8 400 2/18 2,950 323 2/12 2,250 2/25 3,850 324 2/19 1,950 2/26-2/28 1,350 325 2/27 200 $ 12,650 326 2/28 700 327 2/28 1,650 $ 6,550 $11,600 12,650 (11,600) $ 7,600 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 $11.755 b. Cash receipts of $1.350 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 $200 that did not clear the bank (NSF check) Check 323 was written for $2,800 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 9 Oscar's checking account earns interest based on the average daily balance. The amount of interest earned for February is $175. h In January, one of Oscar's suppliers, Titanic Fabrics, borrowed $5,500 from Oscar On February 24. Titanic paid $5,650 5.500 borrowed amount plus $150 interest) directly to Academy Bank in payment for January's borrowing Academy Bank charged service fees of $120 to Oscar's for the months e here to search) < Prev Next >>