Required Information [The following information applies to the questions displayed below.) The cash records and bank statement for the month of May for Dlaz Entertainment are shown below. DIAZ ENTERTAINMENT Cash Account Records May 1, 2021, to May 31, 2021 Cash Balance Cash Balance May 31, 2021 $5,188 May 1, 2021 + Cash Receipts $5,280 $12,040 Cash Receipts Date Desc. Amount 5/3 Sales $ 1,460 5/10 Sales 1,899 5/17 Sales 2,520 5/24 Sales 2,990 5/31 Sales 3,180 Date 5/7 5/12 5/15 5/22 5/30 5/31 Cash Disbursements $12,220 Cash Disbursements Check Desc. 471 Legal fees 472 Property tax 473 Salaries 474 Advertising 475 Supplies 476 Salaries Amount $ 1,300 1,670 3,600 1,580 550 3,600 $12,220 $12,040 Member FDIC 7772854360 May 31, 2821 NO. Ending Balance May 31, 2021 $6,210 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 74839 Statement Date: Account Summary Beginning Balance Deposits and Credits Withdrawals and Debits May 1, 2021 Total NO. Total $6,260 7 $19,50 $19, 10e Account Details Deposits and Credits Withdrawals and Debits Date Amount Desc. Date No. Amount Desc. 5/4 $ 1,460 DEP 5/1 469 550 CHK 5/11 1,890 DEP 5/2 479 430 CHK 5/18 2,520 DEP 5/9 471 1,300 CHK 5/20 1,199 NOTE 5/11 400 NSF 5/2e 60 INT 5/12 472 1,670 CHK 5/25 2,990 DEP 5/18 473 3,600 CHK 5/31 30 INT 5/20 608 EFT 5/25 474 1,5ee CHK 5/31 50 SF $ 10,50 $19, 180 Daily Balance Date Amount 5/1 $5,718 5/2 5, 280 5/4 6,748 5/9 5,440 5/11 6,938 5/12 5,260 5/18 4,180 5/20 4,740 5/25 6,230 5/31 $ 6,219 $10,18 Desc. DEP Customer deposit NOTE Note collected EFT Electronic funds transfer INT Interest earned CHK Customer check SF Service fees NSF Nonsufficient funds 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 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
