Cash Balance Cash DANIELS ENTERTAINMENT Cash Account Records May 1, 2024, to May 31, 2024 May 1, 2024 Receipts $5,450 + $11,190 Cash Receipts Description Amount Date Cash Disbursements $11,200 Description Cash Disbursements Memo Legal fees Property tax Salaries Advertising Date 5/3 Sales $1,290 5/7 DC 5/10 Sales 1,720 5/12 DC 5/17 Sales 2,350 5/15 5/24 Sales 2,820 5/22 DC DC 5/31 Sales 3,010 5/30 5/31 CHK number 471 CHK number 472 Supplies Salaries $11,190 Cash Balance May 31, 2024 $5,440 Amount $1,130 1,500 3,430 1,330 380 3,430 $11,200 P.O. Box 162647 Bowlegs, OK 74830 (405) 369-CASH Account Holder: Midwest Bank Looking Out For You Daniels Entertainment 124 Saddle Blvd, Bowlegs, OK 74830 Account Number: Statement Date: Account Summary Beginning Balance May 1, 2024 $6,090 Deposits and Credits Withdrawals and Debits Number 7 Total $9,436 Number 9 Total $8,723 Member FDIC 7772854360 May 31, 2024 Ending Balance May 31, 2024 $6,803 Account Details Deposits and Credits Withdrawals and Debits Daily Balance Date Amount Description Date Number Amount Description Date Amount 5/4 $1,290 DEP 5/1 469 $380 CHK 5/1 $5,710 5/11 1,720 DEP 5/2 470 260 CHK 5/2 5,450 5/18 2,350 DEP 5/7 1,130 DC 5/4 6,740 5/20 1,200 NOTE 5/11 230 NSF 5/9 5,610 5/20 43 INT 5/12 1,500 DC 5/11 7,100 5/25 2,820 DEP 5/15 3,430 DC 5/12 5,600 5/31 13 INT 5/20 430 EFT 5/18 4,520 5/22 1,330 DC 5/20 5,333 5/31 33 SF 5/25 6,823 $9,436 $8,723 5/31 $6,803 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 Daniels for payment that should have been made on another account. Required: 1. Prepare a bank reconciliation for Daniels's checking account on May 31, 2024. 2. Record the necessary cash adjustments. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a bank reconciliation for Daniels'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.) DANIELS ENTERTAINMENT Bank Reconciliation Bank's Cash Balance Per bank statement May 31, 2021 Company's Cash Balance Per general ledger Bank balance per reconciliation Company balance per reconciliation Complete this question by entering your answers in the tabs below. Required 1 Required 2 Record the necessary cash adjustments. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Total entries to the same account together when entering in the journal entry carousel.) View transaction list Journal entry worksheet