Question

Required information 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: Date 2/4 2/11 2/18 2/25 2/26-2/28 Amount $ 2,150 Checks: 1,750 2,650 3,550 1,050 $ 11,150 No. 321 322 323 324 325 326 327 Date 2/2 2/8 2/12 2/19 2/27 2/28 2/28 Amount $ 4,150 550 1,950 1,650 350 850 1,350 $10,850 Cash receipts: Balance on February 1 Receipts Disbursements Balance on February 28 $ 6,250 11,150 (10,850) $ 6,550 Information from February's bank statement and company records reveals the following additional information:

Answer 1

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Oscar's Red Carpet
Bank reconciliation statement
Bank's cash balance			Company's cash balance
Per bank statement	10,075.00		Per general ledger	6,550.00
Deposits outstanding	1,050.00		Interest on account	145.00
Checks Outstanding (1350+350)	(1,700.00)		Interest on Note	150.00
			Note collected	4,900.00
			NSF Cheque	(350.00)
			Company error (2500-1950)	(550.00)
			ETF for rent	(1,300.00)
			Service fees	(120.00)
Bank balance per reconciliation	9,425.00		Company's cash balance per reconciliation	9,425.00