Cash Balance May 1, 2024 $5,470 Cash Receipts + $11,090 Cash Receipts COPPERFIELD ENTERTAINMENT Cash Account Records May 1, 2024, to May 31, 2024 Cash Disbursements Cash Disbursements Memo Legal fees Property tax Salaries Advertising $11,080 Date Description Amount Date Description 5/3 Sales $1,270 5/7 DC 5/10 Sales 1,700 5/12 DC 5/17 Sales 2,330 5/15 DC 5/24 Sales 2,800 5/22 DC 5/31 Sales 2,990 5/30 5/31 CHK number 471 CHK number 472 Supplies Salaries $11,090 Cash Balance May 31, 2024 $5,480 Amount $1,110 1,480 3,410 1,310 360 3,410 $11,080 P.O. Box 162647 Bowlegs, OK 74830 (405) 369-CASH Account Holder: Midwest Bank Looking Out For You Member FDIC Copperfield Entertainment 124 Saddle Blvd, Bowlegs, OK 74830 Account Number: Statement Date: Account Summary Beginning Balance May 1, 2024 $6,070 Deposits and Credits Number Withdrawals and Debits Total 7 $9,252 Number 9 Total $8,561 7772854360 May 31, 2024 Ending Balance May 31, 2024 $6,761 Account Details Deposits and Credits Withdrawals and Debits Daily Balance Date Amount Description Date Number Amount Description Date Amount 5/4 $1,270 DEP 5/1 469 $360 CHK 5/1 $5,710 5/11 1,700 DEP 5/2 470 240 CHK 5/2 5,470 5/18 2,330 DEP 5/7 1,110 5/20 1,100 NOTE 5/11 210 5/20 41 INT 5/12 1,480 5/25 2,800 DEP 5/15 3,410 5/31 11 INT 5/20 410 5/22 1,310 5/4 6,740 NSF 5/9 5,630 5/11 7,120 5/12 5,640 EFT 5/18 4,560 5/20 5,291 5/31 31 5/25 6,781 $9,252 $8,561 5/31 $6,761 $11,090 $11,080 P.O. Box 162647 Bowlegs, OK 74830 (405) 369-CASH Account Holder: Copperfield Entertainment 124 Saddle Blvd, Bowlegs, OK 74830 Midwest Bank Looking Out For You Member FDIC Account Number: Statement Date: Account Summary Beginning Balance May 1, 2024 Deposits and Credits Withdrawals and Debits Number $6,070 7 Total $9,252 Number 9 Total $8,561 7772854360 May 31, 2024 Ending Balance May 31, 2024 $6,761 Account Details Deposits and Credits Withdrawals and Debits Daily Balance Date Amount Description Date Number Amount Description Date Amount 5/4 $1,270 DEP 5/1 469 $360 CHK 5/1 $5,710 5/11 1,700 DEP 5/2 470 240 CHK 5/2 5,470 5/18 2,330 DEP 5/7 1,110 DC 5/4 6,740 5/20 1,100 NOTE 5/11 210 NSF 5/9 5,630 5/20 41 INT 5/12 1,480 DC 5/11 7,120 5/25 2,800 DEP 5/15 3,410 DC 5/12 5,640 5/31 11 INT 5/20 410 EFT 5/18 4,560 5/22 1,310 DC 5/20 5,291 5/31 31 SF 5/25 6,781 $9,252 $8,561 5/31 $6,761 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. 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 Cash Balance Company's Cash Balance Per bank statement $ Deposits outstanding 6,761 Per general ledger 11,090 $ 5,480 Note collected 1,100 Bank error 360 Interest earned 52 Checks outstanding 2,310 Service fees 31 Bank balance per reconciliation $ 15,901 Company balance per reconciliation < Required 1 Required 2 > $ 6,601 Required: 1. Prepare a bank reconciliation for Copperfield'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 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 View journal entry worksheet General Journal No Transaction A 1 Cash Accounts Receivable Debit Credit 2,100 B 2 Accounts Payable 1,600 < Required 1 Required 2 > 2,100