W OW N W Chapter 7 Internal Control and Cash BE 7-3 Bank reconciliation The following data were gathered to use in reconciling the bank account of Reddan Company: Balance per bank Balance per company records Bank service charges Deposit in transit $25,750 19,140 45 2,300 5,200 3,755 Note collected by bank with $200 interest Outstanding checks a. What is the adjusted balance on the bank reconciliation? b. Journalize any necessary entries for Reddan Company based on the bank reconciliation. BE 7-4 Petty cash fund Journalize each of the following petty cash transactions: 391 Obj. 5 Obj. 6 a. Issued a check to establish a petty cash fund of $500. b. The amount of cash in the petty cash fund is $85. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $360, and miscellaneous selling expense, $40. Record any missing funds in the cash short and over account.

BE 7-3 Bank reconciliation The following data were gathered to use in reconciling the bank account of Reddan Company: a. What is the adjusted balance on the bank reconciliation? b. Journalize any necessary entries for Reddan Company based on the bank reconciliation. BE 7-4 Petty cash fund Journalize each of the following petty cash transactions: Obj. 6 a. Issued a check to establish a petty cash fund of $500. b. The amount of cash in the petty cash fund is 585 . Is sued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $360, and miscellaneous selling expense, $40. Record any missing fundsin the cash short and over account