The cash records and bank statement for the month of May for Diaz Entertainment are shown below. Cash Balance. DIAZ ENTERTAINMENT Cash Account Records May 1, 2021, to May 31, 2021 Cash Disbursements Cash Balance May 1, 2021 $5,360 +Cash Receipts $11,640 $11,740 Cash Receipts Date Desc. Amount Date: Check 5/3 Sales $ 1,380 5/7 471 5/10 Sales 1,810 5/12 472 5/17 Sales 2,440 5/15 473 Salaries 5/24 Sales 2,910 5/22 474 Advertising Cash Disbursements Desc. Legal fees Property tax May 31, 2021 $5,260 Amount $ 1,220 1,590 3,520 1,420 5/31 Sales 3,100 5/30 475 5/31 476 Supplies Salaries 470 $11,640 3,520 $11,740 P.O. Box 162647 Bowlegs, OK 74830 (405) 369-CASH Account Holder:1 Diaz Entertainment 124 Saddle Blvd, Bowlegs, OK 74830 Midwest Bank Looking Out For You Member FDIC Account Number: Statement Date: Account Summary Beginning Balance May 1, 2021 $6,180 Deposits and Credits: Deposits and Credits NO, 7 Total $9,814 Withdrawals and Debits NO. 9 Total $9,452 7772854360 May 31, 2021 Ending Balance May 31, 2021 $6,542 Account Details Withdrawals and Debits Daily Balance Date Amount Desc. Date No. Amount Desc. Date Amount 5/4 $ 1,380 DEP 5/1 469 $ 470 CHK 5/1 $5,710 5/11 1,810 DEP 5/2 470 350 CHK 5/2 5,360 5/18 2,440 DEP 5/9 471 1,220 CHK 5/4 6,740 5/20 200 NOTE 5/11 159 NSE 6/9 5.520 P.O. Box 162647 Bowlegs, OK 74830 (405) 369-CASH Account Holder: Beginning Balance May 1, 2021 $6,180 Diaz Entertainment 124 Saddle Blvd, Bowlegs, OK 74830. Deposits and Credits Midwest Bank Looking Out For You! Member FDIC Account Number: Statement Date: Account Summary Deposits and Credits NO. Total 7 $9,814 Withdrawals and Debits. NO. 9 Total $9,452 7772854360 May 31, 2021. Ending Balance May 31, 2021 $6,542 Account Details Withdrawals and Debits Daily Balance Date Amount Desc. Date No. Amount Desc. Date Amount 5/4 $ 1,380 DEP 5/1 469 $ 470 CHK 5/1 $5,710 5/11 1,810 DEP 5/2 470 350 CHK 5/2 5,360 5/18 2,440 DEP 5/9 471 1,220 CHK 5/4 6,740 5/20 1,200 NOTE 5/11 320 NSF 5/9 5,520 5/20 52 INT 5/12 472 1,590 CHK 5/11 7,010 5/25 2,910 DEP 5/18 473 3,520 CHK 5/12 5,420 5/31 22 INT 5/20 520 EFT 5/18 4,340 5/25 5/31 474 1,420 CHK 5/20 5,072 42 SF 5/25 6,562 $ 9,814. $9,452 5/31 $6,542 Desc. DEP Customer deposit NOTE Note collected EFT Electronic funds transfer) Additional information: INT Interest earned SF Service fees: CHK Customer check NSF Nonsufficient funds 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). 9 < Prev 14 15 of 16 Next > Required 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. Problem 4-3A Part 1 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 Bank's Cash Balance Per bank statement Bank balance per reconciliation May 31, 2021 Company's Cash Balance Per general ledger Company balance per reconciliation 9 < Prev 14 15 of 16 a 7 1 NX Next > t O 19 Journal entry worksheet 1 2 Record the amounts that increase cash. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal