Question

The cash account for Coastal Bike Co. at October 1, 20Y9, indicated a balance of $30,356. During October, the total cash depoboxes in which you must enter subtracted or negative numbers use a minus sign. 2. Journalize the necessary entries. Refer to

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Answer #1
Cash balance on oct 1 30,356
Add:total cash deposited 141,460
less:total checks written -137,652
Cash balance on oct 31 34,164
Bank Reconciliation
Cash balance according to bank statement 43,000
Adjustments:
Deposits of Oct 31,not recorded by bank 1,779
Bank error in charging check as $740 instead of $470 270
outstanding checks 6,515
total adjustments -4,466
Adjusted balance 38,534
cash balance according to company's records 34,164
proceeds of note collected by bank ,including $275 interest 5,775
Bank service charges 29
checks returned due to insuffiecient funds 1376
Error in recording check 180
total adjustments 4,190
Adjusted balance 38,354
Entries that increase cash
Account titles & explanations debit Credit
cash 5,775
note receivable 5,500
interest income 275
Accounts payable-Rack pro co 180
Accounts recievable -bay view condos 1376
bank service charges/misc expense 29
cash 1585
3) amount to be reported as cash 38,354
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