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 Cash Balance Cash Cash May 1, 2021+ Receipts Disbursements May 31, 2021 $5,370 $11,590 $11,689 $5,280 Cash Receipts Cash Disbursements Date Desc. Amount Date Check# Desc. Amount 5/3 Sales $ 1,370 5/7 471 Legal fees $ 1,210 5/10 Sales 1,800 5/12 472 Property tax 1.580 5/17 Sales 2,430 5/15 473 Salaries 3,510 5/24 Sales 2,900 5/22 474 Advertising 1,410 5/31 Sales 3,090 5/30 475 Supplies 460 5/31 476 Salaries 3,510 $11,590 $11,680 1 Member FDIC 777285436 May 31, 2021 P.O. Box 162647 Midwest Bank Bowlegs, OK 74830 Looking Out For You (405) 369-CASH Account Holder: Daz 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 $6,170 7 59,672 9 $9,371 Account Details Deposits and Credits Withdrawals and Debits Date Amount Desc Date Amount Desc 5/4 $1,370 DEP 5/1 469 $ 460 CHK 5/11 1,800 DEP 5/2 47e 340 CHK 5/18 2,430 DEP 5/9 471 1,210 CHK 5/7 1. 100 NOTE 5/11 30 NSE Ending Balance May 31, 2021 $6,471 No. Daily Balance Date Amount 5/1 $5,710 5/2 5,370 5/4 6,740 5/9 5.534 Prev cm 12 of 8 !!! Next > mework Saved Member FDIC 7772854360 May 31, 2021 NO. Ending Balance May 31, 2821 56,471 - P.0. Box 162647 Midwest Bank Bowlegs, OK 74830 Looking Out For You (405) 369-CASH Account Holders 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 Total $6,170 7 $9,672 9 $9,371 Account Details Deposits and Credits Withdrawals and Debits Date Amount Desc Date No. Anount Desc. 5/4 $ 1,370 DEP 5/1 469 $460 CHK 5/11 1,800 DEP 5/2 470 340 CHK 5/18 2,430 DEP 5/9 471 1,210 CHK 5/20 1,100 NOTE 5/11 310 NSF 5/20 51 INT 5/12 472 1,589 CHK 5/25 2,900 DEP 5/18 473 3,510 CHK 5/31 21 INT 5/20 510 EFT 5/25 474 1,410 CHK 5/31 41 SF $ 9,672 $9,371 5/9 Daily Balance Date Amount 5/1 $5,712 5/2 5,378 5/4 6, 740 5,530 5/11 7,028 5/12 5,440 5/18 4,360 5/20 5,001 5/25 6,491 5/31 $6,471 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 balonces in the company's records and the bank statement relates to checks #469 an- #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 2. Record the necessary cash adjustments. (If no entry is required for a transaction/event, select "No Journal Entry Require first account field. Total entries to the same account together when entering in the journal entry carousel.) View transaction list Journal entry worksheet Record the amounts that increase cash. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general Journal