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 $5,280 Cash Balance Cash May 1, 2021 + Receipts $5,370 $11,590 Cash Receipts Date Desc. 5/3 Sales 5/10 sales 5/17 Sales 5/24 Sales 5/31 Sales Amount $ 1,370 1.800 2.430 2,900 3,090 472 Cash Disbursements $11,680 Cash Disbursement Check# Desc. 471 Legal fees Property tax 473 Salaries 474 Advertising Supplies 476 Salaries Date 5/7 5/12 5/15 5/22 5/30 5/31 Amount $ 1,210 1.580 3,510 1,410 460 3,510 $11,680 475 $11,590 Member FDIC 7772854360 May 31, 2021 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. 1707 $9, 672 9 $9,371 Account Details Deposits and Credits Withdrawals and Debito Date Amount Amount Desc. Date No. Amount Desc. 5/4 $1,370 DEP 5/1 469 $ 460 CHK Ending Balance M ay 31, 2021 $6,471 Daily Balance Date Amount 5/1 $5,710 Member FDIC 7772854360 May 31, 2021 Ending Balance May 31, 2021 $6,471 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. 170 7 $9,672 9 $9,371 Account Details Deposits and Credits Withdrawals and Debits Date Amount Desc. Date Amount $ 1.370 DEP 5/1 $ 460 5/11 1,800 5/2 470 340 5/18 2,430 DEP 5/9 1,210 CHK 5/20 1,100 NOTE 5/11 310 5/20 51 5/12 1.580 CHK 5/25 2,900 DEP 5/18 473 3,510 5/31 21 INT 5/20 510 5/25 1.410 CHK 5/31 $ 9.672 $9,371 No. 5/4 469 DEP 471 Daily Balance Date Amount 5/1 $5,710 5/2 5,370 5/4 6,740 5/9 5.530 5/11 7,020 5/12 5.440 5/18 4.360 5/20 5,001 5/25 6,491 5/31 $6,471 INT 472 CHK 1 Dese. DEP Customer deposit NOTE Note collected EPT Electronic funds transfer INT Interest earned SP Service fees CHK Customer check NSP 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 Diaz for payment that should have been made on another account. when Required: 4 DR A A. 10 IAmAh nne Annilindian farinhaplin 10 Next > Required information Desc. ustome collection des DEP Customer deposit NOTE Note collected EFT Electronic funds transfer INT Interest earned CRK Customer check SY Service fees NSP Nonsufficient funds Additional information: a. The difference in the beginning balances in the company's records and the bank statement relates to checks 1469 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 C Company balance per reconciliation e niliation Bank balance per reconciliation 9
