Required information [The following information applies to the questions displayed below.) The cash records and bank statement for the month of May for Dia Entertainment are shown below. DIAZ ENTERTAINMENT Cash Account Records May 1, 2021, to May 31, 2021 Cash Balance May 31, 2021 $5,500 Cash Balance Cash May 1, 2021 + Receipts $5,480 $11,840 Cash Receipts Date Desc. 5/3 Sales 5/10 Sales 5/17 Sales 5/24 Sales 5/31 Sales Amount $ 1,260 1,690 2,320 2,790 2,980 Date 5/7 5/12 5/15 5/22 5/30 5/31 Cash Disbursements $11,020 Cash Disbursements Check Desc. 471 Legal fees 472 Property tax 473 Salaries 474 Advertising 475 Supplies 476 Salaries Amount $ 1,100 1,470 3,400 1,300 350 3,400 $11,020 $11,040 Member FDIC 7772854360 May 31, 2021 P.0. 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 $6,060 7 $9,310 9 $8,480 Account Details Deposits and Credits Withdrawals and Debits Date Amount Desc. Date No. Amount Desc. 5/4 $ 1,260 DEP 5/1 469 $ 350 CHK 5/11 1,690 DEP 5/2 478 230 CHK 5/18 2,320 DEP 5/9 471 1,100 CHK 5/20 1,200 NOTE 5/11 200 NSF TRIT 6/19 A77 1 A7 ru Ending Balance May 31, 2021 $6,890 Daily Balance Date Amount 5/1 $5,710 5/2 5,480 5/4 6,740 5/9 5,640 5/19 712 AA Member FDIC 7772854360 May 31, 2021 Ending Balance May 31, 2021 $6,899 P.0. 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 $6,060 7 $9,310 9 $8,480 Account Details Deposits and Credits Withdrawals and Debits Date Amount Desc. Date Amount Desc. 5/4 $ 1,260 DEP 5/1 469 $ 350 CHK 5/11 1,690 DEP 5/2 470 230 CHK 5/18 2,320 DEP 5/9 471 1, 100 CHK 5/20 1,200 NOTE 5/11 200 NSF 5/20 40 INT 5/12 472 1,470 CHK 5/25 2,790 DEP 5/18 473 3,400 CHK 5/31 10 INT 5/20 400 EFT 5/25 474 1,300 CHK 5/31 30 SF $ 9,310 $8,480 No. Daily Balance Date Amount 5/1 $5,710 5/2 5,480 5/4 6,740 5/9 5,640 5/11 7,130 5/12 5,660 5/18 4,580 5/20 5,420 5/25 6,910 5/31 $6,890 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 Dlaz 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 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 Bank's Cash Balance Per bank statement Bank balance per reconciliation Company balance per reconciliation
