Problem 4-3A (Algo) Prepare the bank reconciliation and record cash adjustments (LO4-5) The cash records and bank statement for the month of May for Copperfield Entertainment are shown below Cash Receipts $11,690 COPPERFIELD ENTERTAINMENT Cash Account Records May 1, 2024, to May 31, 2024 Cash Balance Ray 1, 2024 $5,350 Date Cash Receipts Description Amount Date Cash Disburserents $11,800 Description 5/3 Sales $1,390 5/7 DC 3/20 Sales 1,828 5/12 DC 5/17 Sales 2,450 5/15 DC 5/24 Sales 2,920 5/22 00 5/31 Sales 3,110 5/38 5/31 CHK number 471 CHR number 4722 $11,690 Cash Disbursements Mend Legal fees Property tax Salaries Advertising Supplies Salaries Cash Balance May 31, 2024 $9,240 Mount $1,230 1,600 3,538 1,430 3,530 $11,800 P.0. Box 162647 Bowlegs, OK 74830 (405) 369-CASH Account Holder Beginning Balance May 3 2024 $6,190 Deposits and Credits Midwest Bonk Looking Out For You Copperfield Entertainment 124 Saddle Blvd, Bowlegs, OK 74830 Account Number Statenent Date: Account Summary Deposits and Credits Number 1139,6562533 Account Detail Date Amount Description kithdrawals and Debits Total Number Total Withdrawals and Debits Meeber FOIC 7772854368 May 31, 2024 Ending Balance May 31, 2824 $6,313 Daily Balance Date 5/4 $1,390 DEP Number Amount Description Date Amount 5/11 5/1 469 1,820 5480 CHO DEP 5/18 5/2 478 360 2,450 DEP 5/7 5/20 1,000 1,230 NOTE 5/11 5/20 330 $3 INT 5/22 5/25 2,928 DEP 5/31 5/15 23 1,see 3,530 INT 5/20 5/22 5/31 530 1,430 43 538288585 5/2 $5,718 CHR 5/2 5,358 5/4 6,748 NSF 5/9 5,518 5/11 7,000 5/12 5,488 5/18 4,320 5/20 4,843 $9,656 5/25 6,333 5/31 $6,313 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: $9,533 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 montaj 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 5/20 33 INT 5/12 1,600 5/25 5/31 2,920 DEP 5/15 3,530 23 INT 5/20 530 5/22 1,438 DC 5/31 43 48388 5/11 7,000 DC 5/32 5,400 EFT 5/18 4,328 5/28 5/25 6,333 39,656 $9,533 5/31 $6,313 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. Answer is complete but not entirely correct. 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 S 6.210 Per general ledger $ 5,100 Deposits outstanding 0 3.180 Interest earned Checks outstanding Bank error (4.510) Note collected 0 600 NSF check Service fees 0000 90 - 1,100 (400) (50) Bank balance per reconciliation S 5.840 Company balance per reconciliation $ 5.840 Required 2 > ALLUMIL ELHAN Deposits and Credits Hithdrawals and Debits Daily Balance Date Amount Description Date Number Amount Description Date Amount 5/4 $1,390 DEP 5/1 469 $480 CHK 5/1 3/11 5/18 1,820 DEP $5,710 5/2 470 360 CHK 5/2 5,350 2,450 DEP 5/7 1,238 DC 5/4 6,760 3/20 1,000 NOTE 5/11 330 NSF $19 5,518 5/20 53 INT 5/12 1,600 DC 5/11 7,000 5/25 5/31 2,920 DEP 5/15 3,530 DC 5/12 5,400 23 INT 5/20 530 EFT 5/18 4,328 5/22 1,438 DC 5/20 4,843 5/31 43 SF 5/25 6,333 $9,656 $9,533 5/31 56,313 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. Answer is complete but not entirely correct. 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.) No Transaction A Cash Notes Receivable Interest Revenue B 2 Accounts Receivable Service Fee Expense Cash General Journal Debit Credit 0 1,190 1.100 90* 000 400 50 450