Required information Problem 4-3A Prepare the bank reconciliation and record cash adjustments (L04-5) [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 $5,320 Cash Balance Cash May 1, 2021 + Receipts $5,390 $11,490 Cash Receipts Date Desc. 5/3 Sales 5/10 Sales 5/17 Sales 5/24 Sales 5/31 Sales Amount $ 1,350 1,780 2,410 2,880 3,070 Date 5/7 5/12 5/15 5/22 5/30 5/31 Cash Disbursements $11,560 Cash Disbursements Check Dese. 471 Legal fees 472 Property tax 473 Salaries 474 Advertising 475 Supplies 476 Salaries Amount $ 1,190 1,560 3,490 1,390 440 3,490 $11,560 $11,490 Member FDIC 7772854360 May 31, 2021 P.O. Box 162647 Midwest Bank Bowlegs, OK 74830 Looking Out For You (405) 369-CASH Account Holder: Dia Entertainment Account Number: 124 Saddle Blvd, Bowlega, OK 74830 Statement Date: Account Summary Withdrawals and Beginning Balance Deposits and Credits Debits May 1, 2021 NO. Total NO. Total 56,150 7 59.688 9 $9,209 Account Details Deposits and Credits Withdrawals and Debits Ending Balance May 31, 2021 $6,629 Daily Balance Ending Balance May 31, 2021 $6,629 LUMILUX Withdrawals and Beginning Balance Deposits and Credits Debits May 1, 2021 NO. Total NO. Total $6, 150 7 $9.688 9 $9,209 Account Details Deposits and Credits Withdrawals and Debits Date Amount Desc. Date No. Amount Desc. 5/4 $ 1,350 DEP 5/1 469 $ 440 CHK 5/11 1,780 DEP 5/2 470 5/18 CHK 2,410 DEP 5/9 471 1,190 CHK 5/20 1,200 NOTE 5/11 290 NS 5/20 49 INT 5/12 472 1,560 CHK 5/25 2,880 DEP 5/18 473 3,490 CHK 5/31 19 INT 5/20 490 EFT 5/25 474 1,390 5/31 39 SP $ 9.688 $9,209 320 Daily Balance Date Amount 5/1 $5,710 5/2 5,390 5/4 6,740 5/9 5,550 5/11 7,040 5/12 5,480 5/18 4,400 5/20 5,159 5725 6,649 5/31 $6,629 Desc DEP Customer deposit INT Interest earned SP Service fees NOTE Note collected CRK Customer check NSP Nonsufficient funds EIT Hectronie tunda 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 information #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 Dioz 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 Per general ledger ces Bank's Cash Balance Per bank statement Bank balance per reconciliation Company balance per reconciliation Problem 4-3A Part 2 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