Check my work Member FDIC 7772854360 May 31, 2021 Ending Balance May 31, 2021 $6,632 P.O. Box 162647 Midwest Bank Bowlegs, OK 74830 Looking Out For You (405) 369-CASH Account Holder: Diaz Entertainment Account Number: 124 Saddle Blvd, Bowlegs, OK 74830 Statement Date: Account Summary Withdrawals and Beginning Balance Deposits and Credits Debits May 1, 2021 NO. Total NO. Total $6,080 $9, 194 9 $8,642 Account Details Deposits and Credits Withdrawals and Debits Date Amount Desc. Date No. Amount Desc. 5/4 $ 1,280 DEP 5/1 469 $ 370 CHK 5/11 1,710 DEP 5/2 470 250 CHK 5/18 2,340 DEP 5/9 471 1,120 CHK 5/20 1,000 NOTE 5/11 220 NSF 5/20 42 INT 5/12 472 1,490 CHK 5/25 2,810 DEP 5/18 473 3,420 CHK 5/31 INT 5/20 420 EFT 5/25 474 1,320 CHK 5/31 32 $ 9,194 $8,642 Daily Balance Date Amount 5/1 $5,710 5/2 5,460 5/4 6, 740 5/9 5,620 5/11 7, 110 5/12 5,620 5/18 4,540 5/20 5,162 5/25 6,652 5/31 $6,632 12 Desc. DEP Customer deposit NOTE Note collected EFT Electronic funds transfer INT Interest earned SF Service fees CHK Customer check NSF 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 #470, 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's Cash Balance Bank Reconciliation May 31, 2021 Company's Cash Balance 6,632 Per general ledger Interest earned Note collected Per bank statement $ Deposits outstanding Checks outstanding Bank error 420 NSF check Service fees Bank balance per reconciliation Company balance per reconciliation Check my work Required information [The following information applies to the questions displayed below.] The cash records and bank statement for the month of May for Diaz Entertainment are shown below. DIAZ ENTERTAINMENT Cash Account Records May 1, 2021, to May 31, 2021 Cash Balance May 31, 2021 $5,460 Cash Balance Cash May 1, 2021 + Receipts $5,460 $11,140 Cash Receipts Date Desc. 5/3 Sales 5/10 Sales 5/17 Sales 5/24 Sales 5/31 Sales Amount $ 1,280 1,710 2,340 2,810 3,000 Date 5/7 5/12 5/15 5/22 5/30 5/31 Cash Disbursements $11,140 Cash Disbursements Check# Desc. 471 Legal fees 472 Property tax 473 Salaries 474 Advertising 475 Supplies 476 Salaries Amount $ 1,120 1,490 3,420 1,320 370 3,420 $11,140 $11,140
