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(Solved by Expert Tutors) An examination of the cash activities during the year shows the followin


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GREAT ADVENTURES
Cash Account Records
July 1, 2018, to December 31, 2018
Deposits Checks/Debit Cards
??Date ??Desc. Amount ??Date No. ??Desc. Amount
??7/1 ??Stock sale $ 20,000 ??? ??7/1 101 ??Insurance $ ?3,840 ??
??7/15 ??Clinic receipts ? 2,000 ??? ??7/2 102 ??Legal fees ? 1,100 ??
??7/22 ??Clinic receipts ? 2,300 ??? ??7/7 DC ??Advertising ? 220 ??
??7/30 ??Clinic receipts ? 4,000 ??? ??7/8 103 ??Bikes ? 11,200 ??
??8/1 ??Borrowing ? 22,000 ??? ??7/24 DC ??Advertising ? 620 ??
??8/10 ??Clinic receipts ? 3,000 ??? ??8/4 104 ??Kayaks ? 16,800 ??
??8/17 ??Clinic receipts ? 10,500 ??? ??8/24 DC ??Office supplies ? 1,720 ??
??9/21 ??Clinic receipts ? 12,400 ??? ??9/1 105 ??Rent ? 1,440 ??
??10/17 ??Clinic receipts ? ?17,100???? ??12/8 106 ??Race permit ? 1,120 ??
??12/15 ??Race receipts ? 20,000 ??? ??12/16 107 ??Salary ? 2,000 ??
? ? ? ? ??12/31 108 ??Dividend ? 2,000 ??
? ? ? ? ??12/31 109 ??Dividend ? 2,000 ??
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? ? $ 113,300 ??? ? ? ?? $ 44,060 ??
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Summary of Transactions
Beginning
Cash Balance
July 1, 2018
+ Deposits ? Checks = Ending
Cash Balance
December 31, 2018
$0 ? $113,300 ? $44,060 ? $69,240

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Suzie has not reconciled the company?s cash balance with that of the bank since the company was started. She asks Summit Bank to provide her with a six-month bank statement. To save time, Suzie makes deposits at the bank only on the first day of each month.
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?????????????????????????????SUMMIT BANK
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Member FDIC ???
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??Account Holder: ??Great Adventures, Inc. ? ?????Account Number:
????Statement Date:
1124537774
Dec. 31, 2018
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Account Summary

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Beginning Balance
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Deposits and Credits

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Withdraws and Debits

Ending Balance
July 1, 2018 ??????????No?????????????Total ? No ????????Total December 31, 2018

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$0 ???8 $93,800 ? 11 $38,260 $55,540
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Account Details

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Deposits and Credits Withdraws and Debits Daily Balance

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??Date Amount Desc. ??Date No. Amount Desc. ??Date Amount
??7/1 $ 20,000 ???? ???DEP ??7/1 101 $ 3,840 ???? ????CHK ??7/1 $ 16,160 ??
??8/1 ? 8,300 ???? ???DEP ??7/7 102 ? 1,100 ???? ????CHK ??7/7 ? 14,840???
??8/1 ? 22,000 ???? ???DEP ??7/7 ? ? 220 ???? ????DC ??7/14 ? 3,640 ??
??9/1 ? 13,500 ???? ???DEP ??7/14 103 ? 11,200 ???? ????CHK ??7/24 ? 3,020 ??
??9/30 ? 200 ???? ???INT ??7/24 ? ? 620 ???? ????DC ??8/1 ? 33,320 ??
??10/1 ? 12,400 ???? ???DEP ??8/9 104 ? 16,800 ???? ????CHK ??8/9 ? 16,520 ??
??11/1 ? 17,100 ???? ???DEP ??8/24 ? ? 1,720 ???? ????DC ??8/24 ? 14,800???
??12/31 ? 300 ???? ???INT ??9/2 105 ? 1,440 ???? ????CHK ??9/1 ? 28,300???
? ? ? ? ??9/30 ? ? 100 ???? ????SF ??9/2 ? 26,860???
? ? ? ? ??12/10 106 ? 1,120 ???? ????CHK ??9/30 ? 26,960???
? ? ? ? ??12/31 ? ? 100 ???? ????SF ??10/1 ? 39,360???
?? ? ? ? ? ? ? ? ? ??11/1 ? 56,460???
?? ? ? ? ? ? ? ? ? ??12/10 ? 55,340???
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? $ 93,800 ???? ? ? ? $ 38,260 ???? ? ??12/31 $ 55,540???
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?Desc. DEP?Customer deposit INT?Interest earned SF?Service fees
? CHK?Customer check DC?Debit card ?

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After comparing the two balances, Suzie has some concern because the bank?s balance of $55,540 is substantially less than the company?s balance of $69,240.
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2-a.?Prepare Great Adventures? bank reconciliation for the six-month period ended December 31, 2018.?(Amounts to be deducted should be indicated with a minus sign. Total entries to the same account together when entering in the bank reconciliation.)
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2-b.?Record any necessary entries to adjust cash.?(If no entry is required for a transaction/event, select "No journal entry required" in the first account field.?Total entries to the same account together when entering in the journal entry carousel.)
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