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Exercises 1. The actual cash received from cash sales was $295,455, and the amount indicated by the cash register total was $295,340. Journalize the entry to record the cash receipts and cash sales. 2. The bank reconciliation shows the following adjustments: - Deposits in transit to bank: $1,234 - Outstanding checks made to creditors: $558 - Bank service charges: $50 - NSF checks: $250 Prepare the correcting journal entry. 3. Using the following information, prepare a bank reconciliation. - Bank balance: $4,021 - Book balance: $2,928 - Deposits in transit to bank: $1,111 - Outstanding checks to creditors: $679 - Bank charges: $35 - Notes receivable collected by bank: $1,325; interest collected by bank: $235 4. Prepare the journal entry to reconcile the bank statement prepared in the previous question. 5. Record the following transactions: a. Started a petty cash fund in the amount of $260. b. Replenished petty cash fund using the following expenses: Auto $15, Office Expenses $20, Postage Expense $81, Miscellaneous Expenses $104. Cash on hand is $37. c. Increased petty cash by $80. 6. Record the following transactions: a. Started a petty cash fund in the amount of $1,000. b. Replenished petty cash fund using the following expenses: Auto $61, Office Expenses $23, Postage Expense $57, Miscellaneous Expenses $30. c. The company has decided to reduce the petty cash fund to $600

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