Assignment
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 $1,025 and No. 5893 for $507. The following information is available for its September 30, 2015, reconciliation.
From the September 30 Bank Statement
|
PREVIOUS BALANCE
|
TOTAL CHECKS AND DEBITS
|
TOTAL DEPOSITS AND CREDITS
|
CURRENT BALANCE
|
|
18,000
|
9,780
|
11,537
|
19,757
|
|
CHECKS AND DEBITS
|
DEPOSITS AND CREDITS
|
DAILY BALANCE
|
|
Date
|
No.
|
Amount
|
Date
|
Amount
|
Date
|
Amount
|
|
09/03
|
5888
|
1,025
|
09/05
|
1,155
|
08/31
|
18,000
|
|
09/04
|
5902
|
709
|
09/12
|
2,261
|
09/03
|
16,975
|
|
09/07
|
5901
|
1,807
|
09/21
|
4,161
|
09/04
|
16,266
|
|
09/17
|
|
661 NSF
|
09/25
|
2,359
|
09/05
|
17,421
|
|
09/20
|
5905
|
932
|
09/30
|
22 IN
|
09/07
|
15,614
|
|
09/22
|
5903
|
435
|
09/30
|
1,579 CM
|
09/12
|
17,875
|
|
09/22
|
5904
|
2,071
|
|
|
09/17
|
17,214
|
|
09/28
|
5907
|
262
|
|
|
09/20
|
16,282
|
|
09/29
|
5909
|
1,878
|
|
|
09/21
|
20,443
|
|
|
|
|
|
09/22
|
17,937
|
|
|
|
|
|
09/25
|
20,296
|
|
|
|
|
|
09/28
|
20,034
|
|
|
|
|
|
09/29
|
18,156
|
|
|
|
|
|
09/30
|
19,757
|
From Chavez Company's Accounting Records
|
Cash Receipts Deposited
|
|
Date
|
Cash Debit
|
|
Sept. 5
|
1,155
|
|
12
|
2,261
|
|
21
|
4,161
|
|
25
|
2,359
|
|
30
|
1,762
|
|
|
11,698
|
|
Cash Disbursements
|
|
Check No.
|
Cash Credit
|
|
5901
|
1,807
|
|
5902
|
709
|
|
5903
|
435
|
|
5904
|
2,033
|
|
5905
|
932
|
|
5906
|
1,045
|
|
5907
|
262
|
|
5908
|
449
|
|
5909
|
1,878
|
|
9,550
|
|
Cash
|
Acct. No. 101
|
|
Date
|
Explanation
|
PR
|
Debit
|
Credit
|
Balance
|
|
Aug. 31
|
Balance
|
|
|
|
16,468
|
|
Sept. 30
|
Total receipts
|
R12
|
11,698
|
|
28,166
|
|
30
|
Total disbursements
|
D23
|
|
9,550
|
18,616
|
Additional Information
Check No. 5904 is correctly drawn for $2,071 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 $2,033. 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 $1,600 note for Chavez Company by the bank. The bank deducted a $21 collection fee. The collection and fee are not yet recorded.
Required:
1. Prepare the September 30, 2015, bank reconciliation for this company.