Question

Required information The following information applies to the questions displayed below.] Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, No. 5888 for $1,003 and No. 5893 for $507. The following information is available for its September 30, 2017, reconciliation From the September 30 Bank Statement PREVIOUS BALANCE TOTAL CHECKS AND DEBITS TOTAL DEPOSITS AND CREDITS CURRENT BALANCE 17, 500 9, 888 11,664 19,276 CHECKS AND DEBITS DEPOSITS AND CREDITS Date 09/03 5888 09/04 5902 09/07 5901 No Date 09/05 09/12 09/21 647NSF 9/25 09/30 09/30 Amount 1,903 773 1,864 1,135 2,284 4,216 2,346 09/20 5905 09/22 5903 09/22 5904 09/28 5907 09/29 5909 969 414 2,112 278 1,888 24IN 1,659CM From Chavez Company's Accounting Records Cash Receipts Deposited Cash Debit Date Sept. 5 1,135 2, 284 4,216 2,346 1,673 30 11,654 Check No 5901 5902 5903 5904 5905 5906 5907 5908 5909 Cash Disbursements Cash Credit 1,804 773 414 2,067 969 1,000 278 394 1,888 9,587 Cash Acct. No. 101 Balance Date Explanation PR Debit Credit Aug. 31 Balance 15,990 27,644 18,057 Sept. 30 Total receipts R12 D23 11,654 30 Total disbursements 9,587 Additional Information Check No. 5904 is correctly drawn for $2,112 to pay for computer equipment, however, the recordkeeper misread the amount and entered it in the accounting records with a debit to Computer Equipment and a credit to Cash of $2,067 The NSF check shown in the statement was originally received from a customer, S. Nilson, in payment of her account. Its return has not yet been recorded by the company. The credit memorandum is from the collection of a $1,680 note for Chavez Company by the bank. The bank deducted a $21 collection fee. The collection and fee are not yet recorded. 2. Prepare the journal entries to adjust the book balance of cash to the reconciled balance. (If no entry is required fora transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry workshcet Record the entry related to the September 30 deposit, if required Note: Enter debits before credits. Date General Journal Debit Credit Sept 30 Record entry Clear entry View general journal

Answer 1