**Chavez Company Bank Reconciliation for September 30**The following details apply to the bank reconciliation process for September 30 for Chavez Company. As of August 31, two checks were outstanding: Number 5888 for $1,093 and Number 5893 for $503. Check Number 5893 remained outstanding on September 30.**Bank Statement Overview:**| Date | Description | Withdrawals | Deposits | Balance ||------------|-----------------|-------------|----------|----------|| September 1| Check #5888 | $1,093 | | $18,606 || September 2| Check #5890 | $789 | | $17,817 || September 2| Cash Deposit | | $1,219 | $19,036 || September 5| Check #5901 | $1,835 | | $17,201 || September 8| Cash Deposit | | $506 | $17,707 || September 11| Check #5902 | $621 | | $17,086 || September 14| Check #5903 | $914 | | $16,172 || September 17| Cash Deposit | | $417 | $16,589 || September 20| Check #5904 | $2,104 | | $14,485 || September 24| Cash Deposit | | $2,314 | $16,799 || September 26| Check #5905 | $265 | | $16,534 || September 28| NSF Check | $1,267 | | $15,267 || September 30| Collection Note| | $1,590 | $16,857 || September 30| Interest | | $18 | $16,875 |**Chavez Company's Accounting Records:**- **Cash Receipts Deposited:** | Date | Amount | |--------------|--------| | September 3 | $1,219 | | September 12 | $2,314 | | September 15 | $506 | | September 21 | $417 | | September ### Problem 6-5A (Algo) Part 2**Instructions:**2. Prepare 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.)**Additional Information:**(a) Check Number 5904 is correctly drawn for $2,104 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 $2,065.(b) 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.(c) The collection of the note on September 30 is not yet recorded by the company.**Journal Entry Worksheet:**- Record the entry related to the September 30 deposit, if required.| Date | General Journal | Debit | Credit ||---------------|-----------------|-------|--------|| September 30 | | | |**Options:**- Record entry- Clear entry- View general journal

on app to the questions displayed below] Chevez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, Number 5888 for $1,093 and Number 5893 for $503. Check Number 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation. Deposits September 1 September 3 Description Check #5888 Check #5902 Cash deposit Check #5901 Cash deposit NSP check Check #5905 Cash deposit Check #5903 Check #5904 Cash deposit Check #5907 Check #5909 Collected note Interest earned Withdrawals $ 1,093 $ 789 $ 1,835 $ 606 $ 917 September 5 September 7 September 12 September 17 September 206 September 21 September 22 September 22 September 25 September 28 September 29 September 30 September 30 From Chavez Company's Accounting Records Cash Receipts Deposited $ 421 $ 2,104 $ 265 $ 1,867 $ 1,183 $ 2,294 $4,047 $ 2,314 $ 1,590 $ 18 Balance $ 18,000 $ 16,907 $ 16,118 $ 17,301 C $ 15,466 $ 17,760 $ 17,154 VALEN $ 16,237 7431 $ 20,284 $ 19,863 $ 17,759 $ 20,073 $ 19,808 $ 17,941 $ 19,531 $ 19,549

on app to the questions displayed below] Chevez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, Number 5888 for $1,093 and Number 5893 for $503. Check Number 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation. Deposits September 1 September 3 Description Check #5888 Check #5902 Cash deposit Check #5901 Cash deposit NSP check Check #5905 Cash deposit Check #5903 Check #5904 Cash deposit Check #5907 Check #5909 Collected note Interest earned Withdrawals $ 1,093 $ 789 $ 1,835 $ 606 $ 917 September 5 September 7 September 12 September 17 September 206 September 21 September 22 September 22 September 25 September 28 September 29 September 30 September 30 From Chavez Company's Accounting Records Cash Receipts Deposited $ 421 $ 2,104 $ 265 $ 1,867 $ 1,183 $ 2,294 $4,047 $ 2,314 $ 1,590 $ 18 Balance $ 18,000 $ 16,907 $ 16,118 $ 17,301 C $ 15,466 $ 17,760 $ 17,154 VALEN $ 16,237 7431 $ 20,284 $ 19,863 $ 17,759 $ 20,073 $ 19,808 $ 17,941 $ 19,531 $ 19,549

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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