[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, 2015, to May 31, 2015 Cash Balance Cash Balance May 1, 2015 Deposits Checks May 31, 2015 $5,480 $11,040 $11,020 $5,500 Deposits Checks Date Desc. Amount Date No. Desc. Amount 1,260 Legal fees $1,100 5/3 Sales 5/7 471 5/10 Sales 1,690 5/12 472 Property tax 1,470 5/17 Sales 2,320 5/15 473 Salaries 3,400 Advertising Supplies Salaries 5/24 Sales 2,790 5/22 474 1,300 2,980 5/31 Sales 5/30 475 350 3,400 5/31 476 $11,040 $11,020 PO, Box 162647 MIDWEST BANK Bowlegs, OK 74830 Member FDIC Looking Out For You (405) 369-CASH 7772854360 Account Holder Diaz Entertainment Account Number: 124 Saddle Blvd. May 31, 2015 Bowlegs, OK 74830 Statement Date: Withdrawals Deposits and Credits Beginning Balance and Debits Ending Balance May 31, 2015 May 1, 2015 No. Total No. Total $ 6,060 $9,310 $8,480 $6,890 7 9 Deposits and Credits Withdrawals and Debits Daily Balance Date Amount Desc. Date No. Amount Desc. Date Amount $1,260 1,690 2,320 $350 5,710 5/4 DEP 5/1 469 CHK 5/1 5/11 DEP 5/2 470 230 CHK 5/2 5,480 5/18 DEP 5/9 471 1,100 CHK 5/4 6,740 5,640 5/20 1,200 NOTE 5/11 200 NSF 5/9 5/20 40 INT 5/12 472 1,470 CHK 5/11 7,130 5,660 5/25 2,790 DEP 5/18 473 3,400 CHK 5/12 5/31 10 INT 5/20 400 EFT 5/18 4,580 5,420 6,910 $6,890 5/25 474 1,300 CHK 5/20 5/31 30 SF 5/25 5/31 $9,310 $8,480 INT Interest earned Desc. DEP Customer deposit SF Service fees NOTE Note collected CHK Customer check NSF Nonsufficient funds EFT 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, 2015. 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 8 value: 1.11 points Required: 1. Prepare a bank reconciliation for Diaz's checking account on May 31, 2015. (Total entries to the same account together when entering in the bank reconciliation and journal entry carousel.) DIAZ ENTERTAINMENT Bank Reconciliation May 31, 2015 Bank's Cash Balance Company's Cash Balance Per bank statement Per general ledger Company balance per reconciliation Bank balance per reconciliation 9. value: 1.12 points 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.) View transaction list Journal entry worksheet
