5 5 pointa The cash records and bank statement for the month of May for Copperfield Entertainment are shown below. Cash Balance Cash Receipts May 1, 2824 Cash Receipts $5,418 + $11,390 Description Amount COPPERFIELD ENTERTAINMENT Cash Account Records May 1, 2824, to May 31, 2024 Cash Disbursements Cash Disbursements $11,440 Date Date Description 5/3 Sales $1,338 5/7 DC Mono Legal fees 5/18 Sales 1,760 5/12 DC 5/17 Sales 2,390 5/15 DC Property tax Salaries 5/24 Sales 2,860 5/22 DC Advertising 5/31 Sales 3,050 5/38 5/31 CHK number 471 CHK number 472 Supplies Salaries $11,398 Cash Balance May 31, 2824 $5,360 Amount $1,178 1,540 3,478 1,378 428 3,478 $11,440 P.O. Box 162647 Bowlegs, OK 74830 (485) 369-CASH Account Holder: Beginning Balance May 1, 2024 $6,138 Midwest Bank Looking Out For You Copperfield Entertainment Account Number: 124 Saddle Blvd, Bowlegs, OK 74838 Statement Date: Account Summary Deposits and Credits Number 7 withdrawals and Debits Total Number $9,504 9 Total $9,047 Member FDIC 7772854360 May 31, 2824 Ending Balance May 31, 2004 $6,587 Account Details Deposits and Credits withdrawals and Debits Daily Balance Date Amount Description Date Number Amount Description Cate Amount 5/4 $1,338 DEP 5/1 469 $428 CHK 5/1 $5,710 5/11 1,768 DEP 5/2 478 380 CHK 5/2 5,410 5/18 2,390 DEP 5/7 1,178 DC 5/4 6,740 5/28 1,100 NOTE 5/11 278 NSF 5/9 5,570 5/28 47 INT 5/12 1,548 DC 5/11 7,060 5/25 2,868 DEP 5/15 3,478 DC 5/12 5,520 5/31 17 INT 5/28 478 EFT 5/18 4,440 5/22 1,378 DC 5/28 5,117 5/31 37 SF 5/25 6,607 $9,504 $9,047 5/31 $6,587 Description DEP Customer deposit INT Interest earned SF Service fees NOTE Note collected CHK Customer check NSF Nonsufficient funds EFT Electronic funds transfer DC Debit card Additional Information: a. The difference in the beginning balances in the company's records and the bank statement relates to checks number 469 and number 470, which are outstanding as of April 30, 2024 (prior month). b. The bank made the EFT on May 20 in error. The bank accidentally charged Copperfield for payment that should have been made on another account Required: 1. Prepare a bank reconciliation for Copperfield's checking account on May 31, 2024. 2. Record the necessary cash adjustments. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a bank reconciliation for Copperfield's checking account on May 31, 2024. (Amounts to be deducted should be Indicated with a minus sign. Total entries to the same account together when entering in the bank reconciliation.) COPPERFIELD ENTERTAINMENT Bank Reconciliation May 31, 2021 Bank's Cach Balance Company's Cach Balance Per bank statement S 6,587 Per general ledger 5,410 Deposits outstanding 3,000 Interest earned 2,010 Bank amor 47 Note collected 270x Checks outstanding 3,800 NSF check 5,570 Service fees 37 Bank balance per reconciliation 13,574 Company balance par reconciliation S 13,291