(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, 2021, to May 31, 2021 Cash Balance May 31, 2021 $5,160 Cash Balance Cash May 1, 2021 - Receipts $5,310 $11,890 Cash Receipts Date Desc. 5/3 Sales 5/10 Sales 5/17 Sales 5/24 Sales 5/31 Sales Amount $ 1,430 1,860 2,490 2,960 3,150 Date 5/7 5/12 5/15 5/22 5/30 5/31 Cash Disbursements $12,040 Canh Disbursements Check Desc. 471 Legal fees 472 Property tax 473 Salaries 474 Advertising 475 Supplies 476 Salaries Amount $ 1,270 1,640 3,570 1,470 520 3,570 $12,040 $11,890 Member PDIC 7772854360 May 31, 2021 P.O. Box 162647 Midwest Bank Bowlegs, OK 74830 Looking Out For You (405) 369-CASH Account Holder: Diaz Entertainment Account Number: 124 Saddle Blvd, Bowlege, OK 74830 Statement Date: Account Summary Withdrawals and Beginning Balance Deposits and Credits Debita May 1, 2021 NO. Total NO. Total $6,230 7 $9,924 9 $9.857 Account Details Deposits and Credits Withdrawals and Debits Date Amount Desc. Date Amount No. Desc. 5/4 $ 1,430 CHK 5/1 DEP 469 $ 520 5/11 1,860 CHK 5/2 DEP 470 400 5/18 2,490 CHK 5/9 DEP 471 1,270 Ending Balance May 31, 2021 $6,297 Daily Balance Date Amount 5/1 $5,710 5/2 5,310 5/4 6,740 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 6,297 Per general ledger 5 3,150 3.297 570 Bank's Cash Balance Per bank statement Deposits outstanding Checks outstanding Bank error 5.10 3 5.274 6,262 Company balance per reconciliation Bank balance per reconciliation