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 $5,160 Cash Balance Cash May 1, 2021 + Receipts $5,310 $11,890 Cash Receipts Dato Desc. 5/3 Sales 5/10 Sales 5/17 Sales 5/24 Sales 5/31 Sales Amount $ 1,430 1,860 2,490 2,960 3,150 Date 5/2 5/12 5/15 5/22 Cash Disbursements $12,040 Cash Disbursements Check Dese. 471 Legal Fees 472 Property tax 473 Salaries 474 Advertising Supplies 476 Salarios Acount $1,270 1,640 3,570 1,470 520 3,570 $12,040 5/30 475 5/31 $11,890 Member FDIC 7772854360 May 31, 2021 Ending Balance May 31, 2021 $6,297 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 $6,230 7 $9,924 9 $9,857 Account Details Deposits and Credits Withdrawals and Debits Date Amount Desc. Date No. Amount Desc. 5/4 $ 1,430 DEP 5/1 469 $ 520 CHK 5/11 1,860 DEP 5/2 470 400 CHK 5/18 2,490 DEP 5/9 471 1,270 CHK 5/20 1,100 NOTE 5/11 370 NSE 5/20 57 INT 5/12 472 1,640 CHK 5/25 2,960 DEP 5/18 473 3,570 CHK 5/31 INT 5/20 570 EFT 5/25 474 1,470 CHK 5/31 47 ST $ 9,924 $9,857 Daily Balance Date Amount 5/1 $5,710 5/2 5,310 5/4 6,740 5/9 5, 470 5/11 6,960 5/12 5, 320 5/18 4,240 5/20 4,827 5/25 6,317 5/31 $ 6, 297 27 Dese. DEP Customer deposit INT Interest earned SF Service fees NOTE Note collected CHK Customer check NSP Nonsufficient funds EPT 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. 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 Bank's Cash Balance Per bank statement Bank balance per reconciliation Company balance per reconciliation
