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 $1,028.05 and No. 5893 for $494.25. The following Information Is avallable for Its September 30 reconciliation. From the September 30 Bank Statement PREVIOUS BALANCE TOTAL CHECKS AND DEBITS TOTAL DEPOSITS AND CREDITS CURRENT BALANCE 16,8ee.45 9,620.es 18,453.25 11,272.85 CHECKS AND DEBITS DEPOSITS AND CREDITS Date Аmount Date No. Amount e9/03 5888 1,028.e5 719.90 09/05 1,103.75 2,226.90 4,e93.ee 09/04 5902 e9/12 09/07 5901 e9/21 1,824.25 09/17 6ee.25 NSF e9/25 2,351.70 e9/20 5905 937.80 e9/30 12.50 IN e9/22 5903 399.10 09/30 1,485.e0 CM 09/22 5984 2,e90.ee e9/28 5907 213.85 09/29 5909 1,807.65 From Chavez Company's Accounting Records Cash Receipts Deposited Cash Debit Date Sep. 5 1,103.7 2,226.90 4,e93.ee 2,351.70 1,682.75 12 21 25 30 11,458.10 Cash Disbursements Check Cash Credit No. 5901 1,824.25 59e2 719.90 5903 399.10 5984 2,860.ee 59e5 937.80 5986 982.30 59e7 213.85 388.00 5988 5909 1,807.65 9,332.05 Cash Acct. No. 101 Explanation Aug. 31 Balance Date Debit Credit Balance PR 15,278.15 Total nocoin+r R11 11 469 10 Son 16 736 16 5902 719.90 5903 399.10 5904 2,060.ee 5905 937.00 982.30 5906 5907 213.85 59e8 388.ee 59e9 1,807.65 9,332.05 Cash Acct. No. 101 Explanation Aug. 31 Balance Sep. 30 Total receipts Date PR Debit Credit Balance 15,278.15 26,736.25 17,404.20 R12 11,458.10 30 Total disbursements D23 9,332.05 Addltional Information Check No. 5904 Is correctly drawn for $2,090 to pay for computer equlpment; 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 $2,060. The NSF check shown in the statement was originally recelved from a customer, S. Nilson, In payment of her account. Its retur has not yet been recorded by the company. The credit memorandum (CM) Is from the collection of a $1,500 note for Chavez Company by the bank. The bank deducted a $15 collection expense. The collection and expense are not yet recorded Required: 1. Prepare the September 30 bank reconcliation for this company. (Round your answers to 2 decimal places.) CHAVEZ COMPANY Bank Reconciliation September 30 Bank statement balance Book balance Add: Add: 0.00 0.00 0.00 0.00 Deduct Deduct: 0.00 0.00 0.00 Adjusted book balance 0.00 Adjusted bank balance

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 $1,037 and No. 5893 for $502. Check No. 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation. From the September 30 Bank Statement PREVIOUS BALANCE TOTAL CHECKS AND DEBITS TOTAL DEPOSITS AND CREDITS CURRENT BALANCE 18,000 9,915 11,479 19,564 CHECKS AND DEBITS DEPOSITS AND CREDITS Date No. Amount Date Amount 09/03 09/04 09/07 09/17 09/20 09/22 09/22 09/28 09/29 1,037 781 09/05 09/12 09/21 09/25 09/30 09/30 1,163 2,228 4,012 2,368 18 IN 5888 5902 1,900 670 NSF 936 378 2,097 264 1,852 5901 5905 5903 5904 1,690 CM 5907 5909 From Chavez Company's Accounting Records Cash Receipts Deposited Cash Debit Date Sept. 5 12 1,163 2,228 4,012 2,368 1,660 21 25 30 11,431 Cash Payments Cash Check No. 5901 Credit 1,900 781 5902 5903 5904 378 2,054 936 1,034 264 391 1,852 5905 5906 5907…

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Cash No. 101 Date Explanation Debit Credit Balance July 1   20,200   20,200 July 1     4,000 16,200 July 5     1,680 14,520 July 18     2,800 11,720 July 20     2,500 9,220 July 21   3,300   12,520 July 31     350 12,170 July 31     5,700 6,470 Accounts Receivable No. 112 Date Explanation Debit Credit Balance July 14   4,400   4,400 July 21     3,300 1,100 July 25   5,900   7,000 choose a transaction date                                                                        Adjusting enter a debit amount enter a credit amount enter a balance amount Supplies No. 126 Date Explanation Debit Credit Balance July 3   2,300   2,300 choose a transaction date                                                                        Adjusting enter a debit amount enter a credit amount enter a balance amount Prepaid…

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Problem 8-12 (IAA) 31: Accounts receivable-unassigned Accounts receivable-assigned Allowance for doubtful accounts-January 1 Receivable from factor Note payable-bank 1,000,000 300,000 30,000 40,000 240,000 During the current year, the entity found itself in financial distress and decided to resort to receivable financing. On June 30, the entity factored P200,000 of accounts receivable to a finance entity. The finance entity charged a factoring fee of 5% of the accounts factored and withheld 20% of the amount factored. On December 31, the entity assigned P300,000 of accounts receivable to a bank under a nonnotification basis. The bank advanced 80% less a service fee of 5% of the accounts assigned. The entity signed a promissory note for the loan. On December 31, it is estimated that 5% of the outstanding accounts receivable may prove uncollectible. Required: 1. Prepare journal entry to record the factoring. 2. Prepare journal entry to record the assignment. 3. Prepare journal entry to…

10:43 |0 • 0.16 4G KB/S 70 Document View 1. Credit memos are items that are already added by the bank but have not been added by the book as of the cut off date. 2. Debit memos are amounts that have been deducted by the bank but have not been deducted per book. 3. Examples of debit memo include accounts receivable collected by the bank in favor of the company and loan proceed directly credited by the bank to the account of the customer. 4. Monthly bank reconciliation is one of the internal control features in every company, which is created to show that there is no discrepancy between the cash balance per book records and the cash balance per bank records. 5. Reciprocal accounts should have the same balance after ail adjustments have been made. Determine whether the following reconciling items should be added to the book or bank account balance or deducted from the book or bank account by putting (/) check mark or (x) cross mark on the corresponding column. ADD DEDUCT DEDUCT ADD TO…

3:09 ull 4G O Not Secure – moodle.asu.edu.om 50 11 Al Ahlya Company wrote a RO2,500, three-months, 8% promissory note dated August 1, to remove credit sales to Jelfar Company. What journal entry would Jelfar Company makes when receiving the note from Al Ahlya . Select one: а. Note receivable 2500 Account Receivable 2500 b. Note Receivable 200 Асcount Receivable 200 С. Account Receivable 2500 Note Receivable 2500 d. Account Receivable 200 Note Receivable 200

LO 7.3Catherine’s Cookies has a beginning balance in the Accounts Payable control total account of $8,200. In the cash disbursements journal, the Accounts Payable column has total debits of $6,800 for November. The Accounts Payable credit column in the purchases journal reveals a total of $10,500 for the current month. Based on this information, what is the ending balance in the Accounts Payable account in the general ledger? EA6.  LO 7.3Record the following transactions in the sales journal: Jan. 15 Invoice # 325, sold goods on credit for $2,400, to Maroon 4, account # 4501 Jan. 22 Invoice #326, sold goods on credit for $3,500 to BTS, account # 5032 Jan. 27 Invoice #327, sold goods on credit for $1,250 to Imagine Fireflies, account # 3896

Use the information from the T account to journalize the transaction from the vendors perspective.