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Chapter 7 Internal Control, and Cash (7) As of June 30, the following items were identified in the Bank Reconciliation, requiring the Kima Company to record adjusting journal entries at the end of the month to determine the adjusted balance of Cash. Record the journal entries: 1. Delta Community Bank collected $1,050 in notes receivable for Kima Company. The Face amount of the note was $1,000. 2. A check received from Jumbo Air Company for $225 in settlement of a payment made on account was returned by the Bank as non-sufficient funds. 3. A check for $520 had been mistakenly recorded in Kima Company's records as $250. The check had been issued to pay for office supplies to Staples. 4. Bank service charges of $35 for June were listed on the bank statement. Record the journal entries to the petty cash fund for the following transactions: 1. June 1. The Company issued a check to establish a petty cash fund for $250. 2. June 30. The cash amount in the petty cash box is $25. The controller authorized a check to be issued to the fund based on the following summary of petty cash receipts: minor office repairs to the copier $50; Office supplies of $75; taxi fare of $20; doughnuts for the office staff on staff appreciation day $35; postage and fed ex shipping costs $45. 3. June 30. The Controller obtained approval to increase the petty cash fund for a total of $300

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