11 Part 1 of 2 Required information Problem 4-3A Prepare the bank reconciliation and record cash adjustments (L04-5) [The following information applies to the questions displayed below.) The cash records and bank statement for the month of May for Diaz Entertainment are shown below. 2 Doints DIAZ ENTERTAINMENT Cash Account Records May 1, 2021, to May 31, 2021 eBook Cash Balance Print References May 31, 2021 $5,300 Cash Balance Cash May 1, 2021 + Receipt 35,380 $11,540 Cash Receipts Date Dese. 5/3 Sales 5/10 Sales 5/17 Sales 5/24 Sales 5/31 Sales Amount $ 1,360 1,790 2,420 2,890 3,080 Date 5/7 5/12 5/15 5/22 5/30 5/31 Cash Disbursements $11,620 Cash Disbursements Check Deac. 471 Legal fees 472 Property tax 473 Salaries 474 Advertising 475 Supplies 476 Salaries Amount $ 1,200 1.570 3,500 1,400 450 3.500 $11,620 $11,540 Member FDIC Midwest Bank Looking Out For You 2.0. Box 162647 Bowlegs, OK 74830 (405) 369-CASH Account Holder: 7772854360 May 31, 2021 Dias Entertainment Account Number 124 Saddle Blvd, Bowlogs, OK 74830 Statement Date: Account Summary withdrawals and Deposits and Credits Debita NO. Total NO. Total Beginning balance May 1, 2021 Ending Balance May 31, 2021 11 Member TDIC 7772854360 Part 1 of 2 May 31, 2021 2 points 100 Ending Balance May 31, 2021 $6.400 2.0. Box 162647 Midwest Bank Bowlego. OK 74830 Looking Out For You (405) 369-CASH Account Holder Diaz Entertainment Account Number 124 Saddle Blvd. Boulego, OR 74830 statement Dates Account Summary Withdrawals and Beginning Balance Deposits and Credits Debits May 1, 2021 NO. Total Total $6,160 7 $9.530 9 $9.290 Account Details Deposits and Credits withdrawals and Debits Date Amount Desc. Date No. Amount Dese. 574 $ 1,360 DEP 5/1 469 $ 450 5/11 1.790 DEP 5/2 420 330 5/18 2,420 DEP 5/9 471 1,200 CHE 5/20 1,000 NOTE 5/11 300 NSP 5/20 50 INT 5/12 472 1,570 CEK 5/25 2,890 DEP 5/18 473 3,500 CHK 5/31 20 INT 5/20 500 EFT 5/25 474 1,400 CHK 5/31 40 SP $ 9,530 $9,290 eBook References Daily Balance Date Amount 5/1 $5,710 572 5.380 5/4 6,740 5/9 5,540 5/11 7.030 5/12 5,460 5/18 4,380 5/20 4.930 5/25 6,420 5731 $6,400 Dese. DEP Customer deposit NOTE Note collected EFT Electronic funds transfer INT Interest earned CHK Customer check ST Service fees NSP Nonsufficient funds Additional Information: a. The difference in the beginning balances in the company's records and the bank statement relates to checks #469 and #470, which are outstanding as of April 30, 2021 (prior month). b. The bank made the EFT on May 20 in error. The bank accidentally charged Diaz for payment that should have been made on another account. 11 Genere ET VIDERE ILLIUS IRON RSU #470, which are outstanding as of April 30, 2021 (prior month). b. The bank made the EFT on May 20 in error. The bank accidentally charged Diaz for payment that should have been made on another account Part 1 of 2 Problem 4-3A Part 1 2 points Required: 1. Prepare a bank reconciliation for Diaz's checking account on May 31, 2021 (Amounts to be deducted should be indicated with a minus sign. Total entries to the same account together when entering in the bank reconciliation) eBook References DIAZ ENTERTAINMENT Bank Reconciliation May 31, 2021 Company's Cash Balance Per general ledger Bank's Cash Balance Per bank statement 25 Bank balance per reconciliation Company balance per reconciliation