DIAZ ENTERTAINMENT Cash Account Records May 1, 2021, to May 31, 2021 Cash Balance May 31, 2021 $5,200 Cash Balance Cash May 1, 2021 + Receipts $5,330 $11,790 Cash Receipts Date Desc. 5/3 Sales 5/10 Sales 5/17 Sales 5/24 Sales 5/31 Sales Amount $ 1,410 1,840 2,470 2,940 3,130 Date 5/7 5/12 5/15 5/22 5/30 5/31 Cash Disbursements $11,920 Cash Disbursements Check Desc. 471 Legal fees 472 Property tax 473 Salaries 474 Advertising 475 Supplies 476 Salaries Amount $ 1,250 1,620 3,550 1,450 500 3,550 $11,920 $11,790 Member FDIC 7772854360 May 31, 2021 NO. 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 Total NO. Total $6,210 7 $9,940 9 $9,695 Account Details Deposits and Credits Withdrawals and Debits Date Amount Desc. Date No. Amount Desc. 5/4 $ 1,410 DEP 5/1 469 $ 500 CHK 5/11 1,840 DEP 5/2 470 380 CHK 5/18 2,470 DEP 5/9 471 1,250 CHK 5/20 1,200 NOTE 5/11 350 NSF 5/20 55 INT 5/12 472 1,620 CHK 5/25 2,940 DEP 5/18 473 3,550 CHK 5/31 25 INT 5/20 550 EFT Ending Balance May 31, 2021 $6,455 Daily Balance Date Amount 5/1 $5,710 5/2 5,330 6, 740 5/9 5,490 5/11 6,980 5/12 5,360 5/18 4,280 5/4 May 31, 2021 Ending Balance May 31, 2021 $6,455 124 Saddle Blvd, Bowlegs, OK 74830 Statement Date: Account Summary Withdrawals and Beginning Balance Deposits and Credits Debits May 1, 2021 NO. Total NO. Total $6,210 7 $9,940 9 $9,695 Account Details Deposits and Credits Withdrawals and Debits Date Amount Desc. Date No. Amount Desc. 5/4 $ 1,410 DEP 5/1 469 $ 500 CHK 5/11 1,840 DEP 5/2 470 380 CHK 5/18 2, 470 DEP 5/9 471 1,250 CHK 5/20 1,200 NOTE 5/11 350 5/20 55 INT 5/12 472 1,620 CHK 5/25 2,940 DEP 5/18 473 3,550 CHK 5/31 25 INT 5/20 550 5/25 474 1,450 CHK 5/31 45 SF $ 9,940 $9,695 NSP Daily Balance Date Amount 5/1 $5,710 5/2 5,330 5/4 6,740 5/9 5,490 5/11 6,980 5/12 5,360 5/18 4,280 5/20 4,985 5/25 6,475 5/31 $6,455 Desc. DEP Customer deposit INT Interest earned SF Service fees NOTE Note collected CHK Customer check NSF Nonsufficient funds EFT Electronic funds transfer 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. Problem 4-3A Part 1 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 6,455 Per general ledger Bank's Cash Balance Per bank statement Deposits outstanding $ Bank balance per reconciliation Company balance per reconciliation View transaction list Journal entry worksheet 1 2 > Record the amounts that increase cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general Journal View transaction list Journal entry worksheet Record the amounts that decrease cash. Note: Enter debits before credits. General Journal Debit Credit Transaction 2 Record entry Clear entry View general Journal