The cash records, bank statement, and additional information for May 2018 for Diaz Entertainment are shown below. DIAZ ENTERTAINMENT Cash Account Records May 1, 2018, to May 31, 2018 Cash Balance May 1, 2018 $5,280 Cash Balance Doposits Checks May 31, 2018 $12,040 $12,220 $5,100 Deposits Checks Desc. Amount Date Date No. Desc. Amount 5/3 Sales $1,460 5/7 471 Legal foes Property tax Salarles $1,300 5/10 Sales Sales 1,890 5/12 472 1,670 3,600 5/17 2,520 5/15 473 5/24 Sales 2,990 5/22 474 Advertising Supplies 1,500 5/31 5/30 Sales 3,180 475 550 3,600 5/31 476 Salaries $12,040 $12,220 PO. Box 162647 Bowlegs, OK 74830 (405) 369-CASH Member FDIC Midwest Bank Looking Out For You Diaz Entertainment 124 Sadde Bivd Account Holder Account Number 7772854360 Statement Date: May 31, 2018 Bowlegs, OK 74830 Account Summary Beginning Balance Deposits and Credits Withdrawals and Debits Ending Balance No. Total No. Total May 31, 2018 May 1, 2018 $10,100 $6.210 $6,260 $10,050 Account Detals Daly Balance Withdrawals and Debits Deposits and Credits Date Amount Date No. Amount 469 Desc CHK CHK Date Amount Desc $5,710 5,280 $1,460 DEP 1,890 DEP 2.520 DEP 1,100 NOTE 60 INT 2.990 DEP 30 INT $550 5/1 5/2 5/4 5/1 5/2 5/9 5/4 430 5/11 470 471 6,740 5,440 6,930 5,260 4,180 4,740 6,230 $6.2 10 1,300 400 HK NSF CHK CHK EFT 5/18 20 5/20 5/9 5/11 5/12 5/18 5/11 5/12 5/18 5/20 472 473 1,670 3,600 600 1,500 50 5/25 5/31 474 CHK SF 5/20 5/25 5/25 5/31 $10,100 5/31 $10,050 INT Interest earned CHK Customor check SF Service fees NSF Nonsuficient funds DEP Customer deposit NOTE Note collected EFT Electronic funds transfer Desc. Additional information: a. The bank made the EFT on that should have been made on another account. May 20 in error. The bank accidentally charged Diaz for payment b. Diaz Entertainment has a Note Receivable on its books from loaning funds to another corporation. Monthly payments of principle and interest on this note are received via Midwest Bank and deposited into Diaz's account. TA 4.1 ACTY 2100 A prior deposit containing a customer check was returned on May 11, 2018 for non-sufficient funds (NSF). On May 31, 2018, the bank charged Diaz for services fees of $50 related to the c. NSF check. On May 31, 2018, the bank paid Diaz $30 interest on their interest bearing checking account. d. Requirements 1. Prepare a bank reconciliation for Diaz's checking 2. Record the necessary cash adjustments (start by determining outstanding checks and deposits). 3. Post bank reconciliation adjustments to determine corrected cash balance account on May 31, 2018. Requirement 1: TY 2100 TA 4.1 Requirement 2: # Credit Date Account Debit Requirement 3
