Cash Account Records May 1, 2021, to May 31, 2021 Cash Balance May 31, 2021 $5, 120 Cash Balance Cash May 1, 2021 + Receipts $5,290 $11.990 Cash Receipts Date Desc. 5/3 Sales 5/10 Sales 5/17 Sales 5/24 Sales 5/31 Sales Amount $ 1,450 1,880 2,510 2,980 3,170 Date 5/7 5/12 5/15 5/22 5/30 5/31 Cash Disbursementa $12,160 Cash Disbursements Check! Desc. 471 Legal fees 472 Property tax 473 Salaries 474 Advertising 475 Supplies 476 Salaries Amount S 1.290 1, 660 3,590 1,490 540 3,590 $12,160 $11.990 P.O. Box 162647 Midwest Bank Member FDIC Bowlegs, OK 74830 Looking Out For You (405) 369-CASH Account Holder: Diaz Entertainment Account Number: 7772854360 124 Saddle Blvd, Bowlegs, OK 74830 Statement Date: May 31, 2021 Account Summary Beginning Balance Deposit and Credits Withdrawals and Debits Ending Balance May 1, 2021 NO. Total NO. Total M ay 31, 2021 $6,250 7 $9,9039 $10,019 6,139 Account Details : Deposits and Credits Withdrawals and Debits Daily Balance ount Desc. Date mount Date Amount 5/4 $1,950 DEP 5/1 469 CHK 5/1 55, 710 5/11 1,80 DEP 5/2 470 420 CHK 5/2 5,290 5/18 2,510 5/9 1.290 CHK 6, 740 5/20 1,000 NOTE 5/11 390 NSE 5/9 5, 450 5/20 5/12 1,660 CHK 5/11 6,940 5/25 2,980 DEP 5/10 3,590 CHK 5/12 5,280 5/31 INT 5/20 5/18 1.200 5/25 1,490 CHK 5/20 4,669 5/31 ST 5/25 6,159 $ 9,900 $10,019 5/31 56,139 Date 540 DEP 5/4 59 590 Desc. DEP Customer deposit NOTE Note collected EFT Electronic Funds Transfer INT Interest earned SP Service fees CHK Customer check NSP Nonsurficient 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) Deac. DEP Customer deposit NOTE Note collected EIT Electronic funds transfer INT Interest earned SP Service fees CHK Customer check 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 2470, 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. 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.) DIAZ ENTERTAINMENT Bank Reconciliation May 31, 2021 Company's Cash Balance Per general ledger Bank's Cash Balance Per bank statement Bank balance per reconciliation Company balance per reconciliation
