PREVIOUS BALANCE TOTAL CHECKS AND DEBITS TOTAL DEPOSITS AND CREDITS CURRENT BALANCE 19,000 9,887 11,683 20,796
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CHECKS AND DEBITS DEPOSITS AND CREDITS DAILY BALANCE
Date No. Amount Date Amount Date Amount
09/03 5888 1,016 09/05 1,156 08/31 19,000
09/04 5902 716 09/12 2,262 09/03 17,984
09/07 5901 1,874 09/21 4,288 09/04 17,268
09/17 690 NSF 09/25 2,335 09/05 18,424
09/20 5905 927 09/30 19 IN 09/07 16,550
09/22 5903 441 09/30 1,623 CM 09/12 18,812
09/22 5904 2,126 09/17 18,122
09/28 5907 241 09/20 17,195
09/29 5909 1,856 09/21 21,483
09/22 18,916
09/25 21,251
09/28 21,010
09/29 19,154
09/30 20,796
From Chavez Company's Accounting Records
Cash Receipts Deposited
Date Cash Debit
Sept 5 1,156
12 2,262
21 4,288
25 2,335
30 1,744
11,785
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Cash Disbursements
Check No. Cash Credit
5901 1,874
5902 716
5903 441
5904 2,084
5905 927
5906 956
5907 241
5908 443
5909 1,856
9,538
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Date Cash Explanation PR Debit Credit Acct. No. 101 Balance
Aug. 31 Balance 17,500
Sept. 30 Total receipts R12 11,785 29,285
30 Total disbursements D23 9,538 19,747
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Additional Information
Check No. 5904 is correctly drawn for $2,126 to pay for computer equipment, however, the record-keeper misread the amount and entered it in the accounting records with a debit to Computer Equipment and a credit to Cash of $2,084. 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 $1,640 note for Chavez Company by the bank. The bank deducted a $17 collection fee. The collection and fee are not yet recorded.
Required:
1. Prepare the September 30, 2015, bank reconciliation for the company.
Chavez Company
Bank Reconciliation
September 30, 2015
Bank statement balance Book balance
Add: Add:
Deduct: Deduct:
Adjusted bank balance Adjusted bank balance
2. Prepare the journal entries to adjust the book balance of cash to the reconciled balance. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)