| 11 Required information Problem 4-3A Prepare the bank reconciliation and record cash adjustments (L04-5) (The following information applies to the questions displayed below.) Part 1 of 2 The cash records and bank statement for the month of May for Diaz Entertainment are shown below. DIAZ ENTERTAINMENT Cash Account Records May 1, 2021, to May 31, 2021 points Cash Balance eBook - May 31, 2021 $5,200 Print Cash Balance Cash May 1, 2021 + Receipts $5,330 $11,790 Cash Receipts Date Desc. 5/3 Sales 5/10 Sales 5/17 Sales 5/24 Sales 5/31 Sales References Amount $ 1,410 1,840 2,470 2,940 3,130 Date 5/7 5/12 5/15 5/22 5/30 5/31 Cash Disbursements $11,920 Cash Disbursements Check# Desc. 471 Legal fees 472 Property tax 473 Salaries 474 Advertising Supplies 476 Salaries Amount $ 1,250 1,620 3,550 1,450 500 3,550 $11,920 475 $11,790 Member FDIC 7772854360 May 31, 2021 P.O. Box 162647 Midwest Bank Bowlegs, OK 74830 Looking Out For You (405) 369-CASH Account Holder: Diaz Entertainment Account Number: 124 Saddle Blvd, Bowlegs, OK 74830 Statement Date: Account Summary withdrawals and Beginning Balance Deposits and Credits Debits May 1, 2021 NO. Total NO. Total $6,210 $9,940 9 $9,695 Account Details Deposits and Credits Withdrawals and Debits Ending Balance May 31, 2021 $ 6,455 Daily Balance Account Details Withdrawals and Debits No. Amount 469 $ 500 470 380 471 1,250 Deposits and Credits Date Amount Desc. 5/4 $ 1,410 DEP 5/11 1,840 DEP 5/18 2,470 DBP 5/20 1,200 NOTE 5/20 55 INT 5/25 2,940 DEP 5/31 25 INT Part 1 of 2 350 Date 5/1 5/2 5/9 5/11 5/12 5/18 5/20 5/25 5/31 Desc. CHK CHK CHK NSF CHK CHK EFT CHK 472 473 1,620 3,550 Daily Balance Date Amount 5/1 $ 5,710 5/2 5,330 5/4 6,740 5/9 5,490 5/11 6,980 5/12 5,360 5/18 4,280 5/20 4,985 5/25 6,475 5/31 $6,455 550 474 1,450 points 45 $ 9,940 $9,695 eBook Print Desc. DEP Customer deposit NOTE Note collected EFT Electronic funds transfer INT Interest earned CHK Customer check SF Service fees NSF Nonsufficient funds References 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. Problem 4-3A Part 1 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.) LuLK HY V a. TIE UITEILE ILE WEyniy vaianice IIT LITE Company Secuius diu ule walin SLOLETTEILTEILES LU LIELAS #03 anu #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 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 Print DIAZ ENTERTAINMENT References Bank's Cash Balance $ Per bank statement Deposits outstanding Checks outstanding Bank error Bank Reconciliation May 31, 2021 Company's Cash Balance 6,455 Per general ledger 3,130 NSF check Interest earned Note collected Service fees Bank balance per reconciliation Company balance per reconciliation Journal entry worksheet Record the amounts that increase cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet Record the amounts that decrease cash. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Record entry Clear entry View general journal