The cash records and bank statement for the month of May for Steal Magnolias Inc are shown below. Steal Magnolias Cash Account Records May 1, 2021, to May 31, 2021 Cash Balance Cash Balance May 1, 2021.Cash Receipts - Cash Disbursements May 31, 2021 $5,370 $11,590 $11,680 $5,280 Cash Receipts Cash Disbursements Date Desc Amount Date Check Desc Amount 5/3 Sales $ 1,37057 471 Legal fees $ 1,210 5/10 Sales 1,8005/12 472 Property tax 1,580 5/17 Sales 2,430 5/15 473 Salaries 3,510 5/24 Sales 2,9005/22 5/31 474 Sales 3,0905/30 Advertising 1,410 475 Supplies 460 5/31 476 Salaries 3,510 $11,590 $ 11,680 Member FDIC 7772854360 May 31, 2021 Ending Balance May 31, 2021 $6,471 P.O. Box 162547 Wachovia Bank Satefore, AL 748.30 We Watch Ova Ya (405) 369-CASH Account Holder Steal Magnolias Account Number: 124 Laundering Way. Federal, PN 14834 Statement Date: Account Summary Beginning Balance Deposits and Credits Withdrawals and Debits May 1, 2021 NO Total NO Total 7 $9.872 9 $9.371 Account Details Deposits and Credits Withdrawals and Debits Amount Desc No Amount 514 Desc DEP S/1 5/11 1.800 $ 460 DEP CHK 5/2 5/18 470 2.430 340 DEP 5/9 CHK 471 1.100 1.210 NOTE 5/11 CHK 5/20 51 INT 310 5/25 5/12 NSF 2.900 472 1.580 531 5/18 CHK 473 21 3.510 INT 5/20 CHK 510 474 EFT 1,410 5/31 CHK 41 SF $9,371 Desc $ 1370 469 520 DEP 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 5/25 $ 9,672 DEP Customer depos INT Interesteamed SF Service fees NOTE Not collected CHK Customer check NSF Nonsufficient funds EFT Electronic funds transfer Aston information The difference in the beginning balances in the company's records and the bank statement relates to checks 40 and 1470, which are outstanding as of April 30, 2021 (prior month). The bank made the EFT on May 20 in error. The bank accidentally charged Steal Magnolias for payment that should have been made on another account Steal Magnolias 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 Date General Journal Debit Credit