Journal transactions business

(39 points)

Journal the following transactions related to the business, Bub’s Gym, owned by Bub Turner.
Start Microsoft Excel, and open the _05_05.xlsx file from C:\ACTT1\Data\Unit_5.
Click the File tab, and click Save As. Save the file to C:\ACTT1\Student\Unit_5.
December 1. Wrote check to establish a petty cash fund, $200.00. Check No. 21.
December 9. Used debit card to buy supplies, $120.00. Memorandum No. 12.
December 14. Paid cash for insurance, using EFT, $50.00. Memorandum No. 13.
December 18. The bank notified Bub’s Gym of a dishonored check from Hawks Athletics for $50.00, with a fee of $35.00. Memorandum No. 14.
December 27. Paid cash for electric bill, $200.00. Check No. 23.
December 31. Replenished petty cash fund for Postage Expense, $15.00, Supplies Expense, 30.00, and Miscellaneous Expense, $10.00, totaling $55.00. Check No. 24.
December 31. Received bank statement showing December bank service charge, $25.00. Memorandum No. 15.
Save the spreadsheet and continue to question 2.
(18 points)

On December 31, Bub’s Gym received a bank statement for the month of December.
Navigate to the Bank Reconciliation tab in the _05_05.xlsx file.
Prepare a bank statement reconciliation. Use the following information from the bank statement and business records.
Bank Statement Balance $1685.00
Bank Service Charge $25.00
Outstanding Deposit, Dec. 30 $450.00
Outstanding Checks, No. 23 and 24
Checkbook balance on check stub No. 25 $1905.00
Save and close the spreadsheet.
Submit your file to your instructor for grading.
(3 points)

Endorse the following checks with the correct endorsement.
Check No. 1 – Blank Endorsement.
Check No. 2 – Special Endorsement paying to the order of Jill Turner.
Check No. 3 – Restrictive Endorsement for deposit into Bub’s Gym account.
Use your own name for the signature.

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