Problem 7-10A Preparation of a bank reconciliation and recording adjustments LUO CHECK FIGURE: 1. Adjusted book balance = $28,250 The following is information for Dundee Realty a. Balance per the bank statement dated October 31, 2017, is $20,000 b. Balance of the Cash account on the companui books as of October 31, 2017.15 0.01 c. $14,680 of customer deposits were outstanding as of September 30, this amount had been deposited to Dundee's account in October. d. Cheques written in October that had not cleared the bank as of October 31 were: #8700, $985 #8709, $12,600 #8801, $620 #8815, $145. e. The bank charged Dundee's account for a $2,350 cheque of the E-Zone Networks; the cheque was found among the cancelled cheques returned with the bank statement. f. Bank service charges for October amount to $65. g. A customer's cheque (Teresa Krant) for $7,050 had been deposited in the bank correctly but was recorded in the accounting records as $7,500. h. Among the cancelled cheques is one for $260 given in payment of an account payable to Decker Company; the bookkeeper had recorded the cheque incorrectly at $620 in the company records. i. The bank statement showed an electronic fund transfer of $22,880 for a customer payment. A bank service fee of $50 was charged. j. A bank deposit of October 31 for $13,420 does not appear on the bank statement. Required 1. Prepare a bank reconciliation statement as of October 31, 2017. 2. Prepare the necessary entries to make the Cash account agree with the bank reconciliation ad- justed Cash balance as of October 31. Analysis Component: Identify the effects on the income statement and balance sheet if the entries in Part 2 were not recorded. y to record estimated bad debes for July Regat Part 2 During ding accounts receivable ransactions and the adjustin August, total sales of $957.000 were recorded, all on credit. Sales returns and allowances 000. Collections during the month were $312.000, which included the recovery of $2.000 from sch . Count written off in a previous month. No accounts were written off during August. Tippleton Company ed its method of estimating bad debts to the balance sheet approach because the new accountants are accurately reflected uncollectible accounts. The resulting ang analysis determined to al estimated un- collectible accounts at August 31 to be $15,000. Required Prepare the August 31 adjusting entry to record estimated bad debts for August Problem 8-9A Estimating bad debts Los eXcel CHECK FIGURE: a. Total estimated uncollectible accounts $13,638 The following informations available regarding the outstanding accounts receivable of Mufa Contracting at (net) = $140,600 1. 2020, its year-end: September 30, 2020: Credit Mon of Credit Sale $1,650,000 3. Adey $35,000 $ 0 74.000 Aug. S - 1.000 9.900 $ 0 0 23.100 0 T. Holton W. NIX 16.500 12.200 15.000 5.600 A series are performed on terms of S e cony eroth try at October 31, 2020, balance sheet using your Mufu estimates bad debts using the following rates: 90 10 119 O ver 119 days past we day pant due 20% 50% 1 to 29 days30 to 55 days 60 to 89 days past due pas de paste 15 4% 10% Not yet due 0.5% Required a. Complete a Schedule of Accounts Receivable by Age at September 30, 2020 (similar to Exhibit 8.13). b. The Allowance for Doubtful Accounts showed an unadjusted balance on September 30, 2020, of $1,900. Record the adjusting entry at September 30, 2020, to estimate uncollectible accounts. 587