Problem 9.6A (Algo) Preparing a bank reconciliation statement and journalizing entries to adjust the cash balance. LO 9-9, 9-10

On August 31, 20X1, the balance in the checkbook and the Cash account of the Dry Creek Bed and Breakfast was $12,273. The balance shown on the bank statement on the same date was $13,192.

Notes a. The firms records indicate that a $1,440 deposit dated August 30 and a $700 deposit dated August 31 do not appear on the bank statement. b. A service charge of $9 and a debit memorandum of $315 covering an NSF check have not yet been entered in the firm's records. (The check was issued by Art Corts, a credit customer.) c. The following checks were issued but have not yet been paid by the bank: d. A credit memorandum shows that the bank collected a $2,079 note receivable and interest of $62 for the firm. These amounts have not yet been entered in the firm's records. Required: 1. Prepare a bank reconciliation statement for the firm as of August 31. 2. Record general journal entries for items on the bank reconciliation statement that must be journalized. Date the entries August 31,201. Analyze: What effect did the journal entries recorded as a result of the bank reconciliation have on the fundamental accounting equation? Complete this question by entering your answers in the tabs below. Prepare a bank reconciliation statement for the firm as of August 31 . Complete this question by entering your answers in the tabs below. Record general journal entries for items on the bank reconciliation statement that must be journalized. Date the entries August 31, 20X1. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.) Journal entry worksheet Complete this question by entering your answers in the tabs below. What effect did the journal entries recorded as a result of the bank reconciliation have on the fundamental accounting equation