+ 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, 350 $11, 690 $11,800 $5, 240 Cash Receipts Cash Disbursements Date Desc. Amount Date Check# Desc. Amount 5/3 Sales $ 1,390 5/7 471 Legal fees $ 1,230 5/10 Sales 1,820 5/12 472 Property tax 1,600 5/17 Sales 2, 450 5/15 473 Salaries 3,530 5/24 Sales 2,920 5/22 474 Advertising 1,430 5/31 Sales 3, 110 5/30 475 Supplies 480 5/31 476 Salaries 3,530 $11,690 $11,800 Member FDIC 7772854360 May 31, 2021 Ending Balance May 31, 2021 $6,313 P.O. Box 162647 Midvest 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 Surmary Withdrawals and Beginning Balance Deposits and Credits Debits May 1, 2021 NO. Total NO. Total $6,190 7 $9, 656 9 $9,533 Account Details Deposits and Credits Withdrawals and Debits Date Amount Desc. Date No. Amount Desc. 5/4 $ 1,390 DEP 5/1 469 $ 480 CHK 5/11 1,820 DEP 5/2 470 360 CHK 5/18 2,450 DEP 5/9 471 1,230 CHK 5/20 1,000 NOTE 5/11 330 NSF 5/20 53 INT 5/12 472 1,600 CHK 5/25 2,920 DEP 5/18 473 3,530 CHK 5/31 23 INT 5/20 530 EFT 5/25 474 1, 430 CHK 5/31 43 SF $ 9,656 $9,533 Daily Balance Date Amount 5/1 $5,710 5/2 5, 350 5/4 6, 740 5/9 5, 510 5/11 7,000 5/12 5, 400 5/18 4,320 5/20 4,843 5/25 6,333 5/31 $6,313 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 Diaz for payment that should have been made on another account. 7772854360 May 31, 2021 Ending Balance May 31, 2021 $6,313 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 $6,190 7 $9, 656 $9,533 Account Details Deposits and Credits Withdrawals and Debits Date Amount Desc. Date Amount Desc. 5/4 $ 1,390 DEP 5/1 469 $ 480 CHK 5/11 1,820 DEP 5/2 470 360 CHK 5/18 2,450 DEP 5/9 471 1,230 CHK 5/20 1,000 NOTE 5/11 330 NSF 5/20 53 INT 5/12 472 1,600 CHK 5/25 2,920 DEP 5/18 473 3,530 CHK 5/31 23 INT 5/20 530 EFT 5/25 474 1,430 CHK 5/31 43 SE $ 9,656 $9,533 No. Daily Balance Date Amount 5/1 $5,710 5/2 5,350 5/4 6,740 5/9 5, 510 5/11 7,000 5/12 5, 400 5/18 4,320 5/20 4,843 5/25 6,333 5/31 $6,313 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 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 BET 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. 2. Record the necessary cash adjustments. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the 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. General Journal Debit Credit Transaction 1 Record entry Clear entry View general journal $ 9,656 $9,533 $6,313 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 Diaz for payment that should have been made on another account. 2. Record the necessary cash adjustments. (If no entry is required for a transaction/event, select "No Journal Entry Required in the 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 decrease cash. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Record entry Clear entry View general journal