Question

The September 30 bank statement for Cadieux Company and the September ledger amount for cash are summarized here.

[The following information applies to the questions displayed below) The September 30 bank statement for Cadieux Company and the September ledger account for cash are summarized here: BANK STATEMENT C hecks Deposits PI B Other NSF check $100 $3.030 Balance, September 1 September 7 September 11 September 12 September 17 September 26 September 29 September 30 #101 $ 810 #102 1720 #103 2.310 alance $2.020 1.920 4.950 4.140 2.420 110 265 245 EFT deposit Service charge 155 20 Cash (A) Balance 2.020 Sep 1 Sep 10 Sep 30 NON inoo 3.030 810 810 Sep 10 #101 S 1720 2.550 ep 15 #102 2.310 Sep 22 Sep 28 #103 #104 Sep 30 Balance 2,710 N No outstanding checks and no deposits in transit were noted in August. However, there are deposits in transit and checks outstanding at the end of September. The NSF check and EFT Involved transactions with Cadieux Company's customers.

Answer 1

CADIEUX COMPANY Bank Reconciliation September 30 245 Book Balance Bank Statement Balance Addittions: $ 2,710 Addittions: 9/30 Deposit in transit EFT Deposit 2,550 155 2,550 155 2,795 2,865 Deductions: Deductions: Outstanding checks 104 Bank Service Charge (20) 50 NSF Check (100) (50) (120) 2,745 Up-to-Date cash balance Up-to-Date cash balance 2,745

2) Journal Entry Account Titles and Explanation Transaction Credit Debit 1 Cash 155 Accounts receivable 155 (to record cash received from customer) 2 Office expense Cash 20 (to record bank service charge 3 Accounts receivable 100 Cash 100 (to record NSF check received from customer) Cash Balance $ 3) 2,745 Total Amount of cash $ 4) 3,165 Notes: Upto Date cash balance Add: Petty cash balance 2,745 420 Total Amount of cash 3,165 20