can you explythe process please

can you provide me explainaton please

Problem 4-3A The cash records and bank statement for the month of May for Diaz Entertainment are shown on the next two tabs. 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, 2024 (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. Required: 1. Prepare a bank reconciliation for Diaz's checking account on May 31, 2024. 2. Record the necessary cash adjustments. DIAZ ENTERTAINMENT Cash Account Records May 1, 2024 to May 31, 2024 Cash Cash Balance May 1, 2024 Receipts $12,040 5 5,250 Date Amount 5/3 51,460 5/10 5/17 5/24 5/31 Cash Receipts: Desc Sales Sales Sales Sales Date 5/7 1,890 2 2,520 5/15 2,990 5/22 10 5/31 3.100 5 12.040 Cash Disbursements 1.220 $ Cash Disbursements Desc DC DC DC DC CHK #471 CHK #472 Memo Legal fees Property tax Salaries Advertising Supplies Cash Balance May 31, 2024. 15 5,100 Amount $ 1,300 1.670 3,600 1.500 550 3.600 12:220 P.O. Box 162647 Bowlegs, OK 74830 (405) 369-CASH Account Holder: Date 5/4 5/11 5/18 5/20 5/20 5/25 5/31 Beginning Balance May 1, 2024 $ 6,260 Deposits and Credits Amount Desc $ 1,460 DEP 1,890 DEP 2,520 DEP 1.100 NOTE 60 INT 2.990 DEP 30 INT Desc Diaz Entertainment 124 Saddle Blvd. Bowlegs, OK 74830 Deposit and Credits No. Total 7 $ 10,050 Account Details Date 5/1 5/2 5/7 5/11 5/12 5/15 5/20 5/22 5/31 Midwest Bank Looking out for You $ 10,050 DEP Customer deposit NOTE Note collected EFT Electronic funds transfer) Account Summary Withdrawals and Debits No. Total 9 $ 10,100 Desc 550 CHK 430 CHK Withdrawals and debits No Amount 469 $ 470 Account number: Statement date: 1,300 DC 400 NSF 1.670 DC 3,600 DC 600 EFT 1.500 DC 50 SF $ 10,100. INT interest earned. CHK Customer check DC Debit card Member FDIC 7772854360 May 31, 2024 Ending Balance May 31, 2024 $ Daily Balance 6,210 Amount 5 Date 5/1 5/2 5/4 5/9 5/11 5/12 5/18 5/20 5/25 5/31 SF Service Fees NSF Nonsufficient funds S 5,710 5,280 5,740 5,440 6,930 5,260 4,180 4,740 6,230 6,210 9030262647 D CASH www NR 13/ MAS ven M MI Decre D 1140 P LIND 100 OFF Mo 1990 DE IUS CO FILE SAN ONEY S lat 15:06 NOTE NOTE HAPPENE Den v Rem Dary 1/5 ME V He Tate T 15/1 11/1 4/5 ke TUN sas Mak Leekong pe CO Account Summary pe $10.00 At Detale Gates but av DN TH 445 www.d He 9 A P Strate Tow $30.300 De S 556.0 HOOF 30 OKT 400 LAI DC 300.00 LN DC 10.100 44000 PROD ON MARINO 45:05 Dobre Salase MWC104 Dely Bee Den 1. 3/2 324 19 VIL VI WA MDC 5:00 14 KESE immer 1 SUS TUX FO S Nm te 3.710 170 1440 1300 1200 4.740 KZVO 6215 CONT Cash Balance Date UN M 1/18 MOT 1/24 VIE Whe Cash Receipts Des Amme Son www HAPL DAT ENTERTAINMENT Can Account R May 2014 May 31 2014 Cash Awaphs 37513040 la Dele 10 32 3/15 1990 5/21 LR M VAL DIKT DON'T INVE Lite Content Memy ng Property www. www Ovac DC DE DC DC CHF 403 LINHO ww Cash MIL JUA Ame MAN DEEN 1.000 LAN 1.000 I AVY $30 1 2 3 4 5 6 7 DATE 8 9 10 11 12 13 14 15 16 17 18 19 20 Bank's Cash Balance Diaz Entertainment Bank Reconciliation May 31, 2024 GENERAL JOURNAL DESCRIPTION Company's Cash Balance POST. REF. Page: DEBIT CREDIT The cash records and bank statement for the month of May for Diaz Entertainment are shown on the next two tab 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, 2024 (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. Required: 1. Prepare a bank reconciliation for Diaz's checking account on May 31, 2024. 2. Record the necessary cash adjustments. DIAZ ENTERTAINMENT Cash Account Records May 1, 2024 to May 31, 2024 Cash Balance Cash May 1, 2024 Receipts. $ 12,040 5,280 Date Amount Date 5/3 $ 1,460 5/7 5/10 2 1,890 2,520 5/17 5/15 5/24 2,990 5/22 5/31 3,180 30 5/31 $ 12,040 + Cash Receipts Desc Sales Sales Sales Sales Sales Cash Disbursements $ 1,220 = Cash Disbursements Memo Legal fees Property tax Salaries Advertising Supplies Salaries Desc DC DC DC DC CHK #471 CHK #472 Cash Balance May 31, 2024 5,100 $ Amount $ 1,300 1,670 3,600 1,500 550 3,600 $ 12,220 P.O. Box 162647 Bowlegs, OK 74830 (405) 369-CASH Account Holder: Date 5/4 5/11 5/18 5/20 5/20 5/25 5/31 Beginning Balance May 1, 2024 $ 6,260 Deposits and Credits Amount Desc. $ 1,460 DEP 1,890 DEP 2,520 DEP 1,100 NOTE 60 INT 2,990 DEP 30 INT Desc. Diaz Entertainment 124 Saddle Blvd. Bowlegs, OK 74830 Deposit and Credits No. Total 7 Date 5/1 5/2 5/7 5/11 5/12 5/15 5/20 5/22 5/31 Midwest Bank. Looking out for You $ 10,050 DEP Customer deposit NOTE Note collected EFT Electronic funds transfer Account Summary Withdrawals and Debits No. Total 9 $ 10,100 Withdrawals and debits No. Amount Desc 469 $ 550 CHK 470 430 CHK $ 10,050 Account Details Account number: Statement date: 1,300 DC 400 NSF 1,670 DC 3,600 DC 600 EFT 1,500 DC 50 SF $ 10,100 INT interest earned. CHK Customer check DC Debit card Member FDIC 7772854360 May 31, 2024 Ending Balance May 31, 2024 Daily Balance $ 6,210 Amount $ Date 5/1 5/2 5/4 5/9 5/11 5/12 5/18 5/20 5/25 5/31 SF Service Fees NSF Nonsufficient funds 5,710 5,280 5,740 5,440 6,930 5,260 4,180 4,740 6,230 $ 6,210 P.O. Box 162647 Bowlegs, OK 74830 (405) 369-CASH Account Holder: Date 5/4 5/11 5/18 5/20 5/20 5/25 5/31 Beginning Balance May 1, 2024 $ 6,260 Deposits and Credits Amount Desc. $ 1,460 DEP 1,890 DEP 2,520 DEP 1,100 NOTE 60 INT 2,990 DEP 30 INT Desc. Date 5/1 5/2 5/7 5/11 5/12 5/15 5/20 5/22 5/31 Midwest Bank Looking out for You Diaz Entertainment 124 Saddle Blvd. Bowlegs, OK 74830 Account Summary Deposit and Credits Withdrawals and Debits No. Total No. Total 7 $ 10,050 9 $ 10,100 Account Details Withdrawals and debits No. Amount Desc 469 $ 550 CHK 470 430 CHK $ 10,050 DEP Customer deposit NOTE Note collected. EFT Electronic funds transfer Account number: Statement date: 1,300 DC 400 NSF 1,670 DC 3,600 DC 600 EFT 1,500 DC 50 SF $ 10,100 INT interest earned. CHK Customer check DC Debit card Member FDIC 7772854360 May 31, 2024 Ending Balance May 31, 2024 Daily Balance Date 5/1 5/2 5/4 5/9 5/11 5/12 5/18 5/20 5/25 5/31 SF Service Fees NSF Nonsufficient funds 6,210 Amount $ 5,710 5,280 5,740 5,440 6,930 5,260 4,180 4,740 6,230 $ 6,210 Cash Balance May 1, 2024 $ 5,280 Date 5/3 5/10 5/17 5/24 5/31 DIAZ ENTERTAINMENT Cash Account Records May 1, 2024 to May 31, 2024 Cash Receipts $ 12,040 Amount $ 1,460 5/7 1,890 52 2,520 5/15 2,990 5/22 3,180 5/30 5/31 + Cash Receipts Desc Sales Sales Sales Sales Sales $ 12,040 Date Cash Disbursements $ 1,220 Cash Disbursements Memo Legal fees Property tax Salaries Advertising Supplies Salaries Desc DC DC DC DC CHK #471 CHK #472 Cash Balance May 31, 2024 $ 5,100 Amount $ 1,300 1,670 3,600 1,500 550 3,600 12,220 $ 1 2 3 DATE 4 5 6 7 8 9 10 11 12 13 14 15 Bank's Cash Balance. Diaz Entertainment Bank Reconciliation May 31, 2024 GENERAL JOURNAL DESCRIPTION Company's Cash Balance POST. REF. Page: DEBIT CREDIT