I\'m needing ALL parts of this question answered please! Problem 7-4 Roper Elect

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I'm needing ALL parts of this question answered please!
Problem 7-4

Roper Electronics received its bank statement for the month of August with an ending balance of $11,740.00. Roper determined that check #613 for $155.00 and check #601 for $420.00 were both outstanding. Also, a $6,900.00 deposit for August 30th was in transit as of the end of the month. Northern Regional Bank also collected a $5,000.00 notes receivable on August 1st that was issued March 1st at 12% annual interest. No interest revenue has been accrued on this note and Northern Regional Bank charged a $35.00 fee for the collection service. The bank statement reveals a bank service charge of $20.00. A customer check for $68.00 was returned with the bank statement marked "NSF". The ending balance of the Roper cash account is $12,938.00.

Complete a bank reconciliation and prepare any necessary journal entries for the reconciliation.

   

Roper Electronics

   

Bank balance August 31:

  

2 results are available, use up and down arrow keys to navigate.

  

  

  

  

  

Adjusted balance - bank:

  

Company balance August 31:

  

  

  

  

  

  

  

  

  

  

  

  

Adjusted balance - company

  

Record the entry to increase cash first. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0".

Aug. 31

  

  

  

  

  

  

  

  

  

  

  

  

Aug. 31

  

  

  

  

Aug. 31

  

  

  

  

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Roper Electronics

   

Bank balance August 31:

  

2 results are available, use up and down arrow keys to navigate.

  

  

  

  

  

Adjusted balance - bank:

  

Company balance August 31:

  

  

  

  

  

  

  

  

  

  

  

  

Adjusted balance - company

  

Explanation / Answer

Unadjusted bal. per bank statement $11,740
less outstanding checks $(575)
add deposit in transit $6,900
Adjusted bal. per bank statement $18,065

Unadjusted bal. per cash account $12,938
add Collection of note receivable $ 5,000
add Interest earned 250 (5,000 x 12% x 5/12) $250
less Service charges (55)
less NSF check (68)
Adjusted bal. per cash account $18,065

Dr Cash 5,000
Cr Notes receivable 5,000
to record collection of note receivable

Dr Cash 250
Cr Interest revenue 250
to record interest earned on the note

Dr Miscellaneous expenses 55
Cr Cash 55
to record bank service charges

Dr Accounts receivable 68
Cr Cash 68

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