Q #1

* H 6 9 O Q El https://ezto.mheducationcom/ext/map/index.html?_... A\" Q {3 Week ? Serial Problem Chapters 6 & 7 0 Saved 1 Santana Rey receives the March bank statement for Business Solutions on April 11, 2022. The March 31 bank statement shows an ending cash balance of $68,366. The general ledger Cash account, Number 101, shows an ending cash balance per books of $68,940 as of March 31 (prior to any reconciliation}. A comparison of the bank statement with the general ledger Cash account, Number 101, 5 reveals the following. points a. The bank erroneously cleared a $590 check against the company account in March that S. Rey did not issue. The check was actually issued by Business Systems. El b. On March 25, the bank statement lists a $40 charge for a safety deposit box. Santana has not yet recorded this expense. 1:. On March 26, the bank statement lists a $11? charge for printed checks that Business Solutions ordered from the bank. Santana has EBODk not yet recorded this expense. _ d. On March 31, the bank statement lists $37 interest earned on Business Solutions's checking account for the month of March. H Santana has not yet recorded this revenue. Print e. S. Rey notices that the check she issued for $136 on March 31, 2022, has not yet cleared the bank. f. S. Rey veries that all deposits made in March do appear on the March bank statement. "Fl References Required: 1. Prepare a bank reconciliation for Business Solutions for the month ended March 31, 2022. Bank statement balance Adjusted bank balance Adjusted book balance 5 2. Prepare any necessary entries. Use Miscellaneous Expenses, for any bank charges. Use Interest Revenue, for any interest earn points on the checking account for March. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) eBook View transaction list Print Journal entry worksheet 2 3 4 5 References Record journal entry related to the $590 check charged erroneously to Business Solutions' account, if required. Note: Enter debits before credits. Date General Journal Debit Credit March 31 Record entry Clear entry View general journal5 2. Prepare any necessary entries. Use Miscellaneous Expenses, for any bank charges. Use Interest Revenue, for any interest earned points on the checking account for March. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) eBook View transaction list Print Journal entry worksheet References Record the journal entry for the $37 interest earned, if required. Note: Enter debits before credits. Date General Journal Debit Credit March 31 Record entry Clear entry View general journalhttps://ezto.mheducation.com/ext/map/index.html?_... A" sd Week 7 Serial Problem - Chapters 6 & 7 @ Saved 5 2. Prepare any necessary entries. Use Miscellaneous Expenses, for any bank charges. Use Interest Revenue, for any interest earned points on the checking account for March. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Book View transaction list Print Journal entry worksheet 2 Santana Rey, owner of Business Solutions, realizes that she needs to begin accounting for bad debts expense. Assume that Business Solutions has total revenues of $54,000 during the first three months of 2022 and that the Accounts Receivable balance on March 31, 2022, is $22.467. points Required: 10. Prepare the adjusting entry to record bad debts expense. which are estimated to be 2% of total revenues on March 31, 2022. There is a zero unadjusted balance in the Allowance for Doubtful Accounts at March 31. 1b. Prepare the adjusting entry to record bad debts expense, which are estimated to be 3% of accounts receivable on March 31, 2022. eBook There is a zero unadjusted balance in the Allowance for Doubtful Accounts at March 31. 2. Assume that Business Solutions's Accounts Receivable balance at June 30, 2022. is $21,150 and that one account of $98 has been written off against the Allowance for Doubtful Accounts since March 31. 2022. If Rey uses the method in part 16, what adjusting journal entry is made to recognize bad debts expense on June 30, 2022? Prim Complete this question by entering your answers in the tabs below. References Req 1A Req 18 Reg 2 Prepare the adjusting entry to record bad debts expense, which are estimated to be 3% of accounts receivable on March 31, 2022. There is a zero unadjusted balance in the Allowance for Doubtful Accounts at March 31. (Do not round intermediate calculations.) View transaction list Journal entry worksheet 2 Santana Rey, owner of Business Solutions, realizes that she needs to begin accounting for bad debts expense. Assume that Business Solutions has total revenues of $54,000 during the first three months of 2022 and that the Accounts Receivable balance on March 31. 2022, is $22.467. 5 points Required: 10. Prepare the adjusting entry to record bad debts expense. which are estimated to be 2% of total revenues on March 31, 2022. There is a zero unadjusted balance in the Allowance for Doubtful Accounts at March 31 1b. Prepare the adjusting entry to record bad debts expense, which are estimated to be 3% of accounts receivable on March 31, 2022. eBook There is a zero unadjusted balance in the Allowance for Doubtful Accounts at March 31. 2. Assume that Business Solutions's Accounts Receivable balance at June 30, 2022, is $21,150 and that one account of $98 has been written off against the Allowance for Doubtful Accounts since March 31. 2022. If Rey uses the method in part 16, what adjusting journal entry is made to recognize bad debts expense on June 30, 2022? Print Complete this question by entering your answers in the tabs below. References Req 1A Req 1B Reg 2 Assume that Business Solutions's Accounts Receivable balance at June 30, 2022, is $21,150 and that one account of $98 has been written off against the Allowance for Doubtful Accounts since March 31, 2022. If Rey uses the method in part 1b, what adjusting journal entry is made to recognize bad debts expense on June 30, 2022? (Do not round intermediate calculations.) View transaction list Journal entry worksheet Record the estimated bad debts. Note: Enter debits before credits. Date General Journal Debit Credit June 30 Record entry Clear entry View general journal