Required information [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 Маy 1, 2021, to May 31, 2021 Cash Balance Cash Balance Cash Disbursements Cash May 1, 2021 $5,290 Мay 31, 2021 $5,120 Receipts $11,990 Cash Receipts + $12,160 Cash Disbursements Check# 471 Amount nount Date Desc. Date Desc. $ 1,450 1,880 2,510 2,980 3,170 $ 1,290 1,660 3,590 1,490 540 5/3 5/10 5/17 5/24 5/31 5/7 5/12 5/15 5/22 5/30 5/31 Legal fees Property tax Salaries Advertising Supplies Salaries Sales Sales 472 Sales 473 474 Sales Sales 475 3,590 476 $11,990 $12,160 Midwest Bank Member FDIC Р.О. Вох 162647 Bowlegs, OK 74830 (405) 369-CASH Account Holder: Looking Out For You Diaz Entertainment 124 Saddle Blvd, Bowlegs, OK 74830 Account Number: 7772854360 Маy 31, 2021 Statement Date: Account Summary Deposits and CreditS NO. Beginning Balance Мay 1, 2021 $6,250 Withdrawals and Debits Ending Balance Маy 31, 2021 $6,139 NO. Total Total $9,908 Account Details $10,019 7 9 Daily Balance Deposits and CreditS Withdrawals and Debits Date Amount Desc. Date No. Amount Desc. Date Amount 5/4 5/11 5/18 5/20 5/20 5/25 5/31 $ 1,450 1,880 2,510 1,000 59 5/1 5/2 5/9 5/11 5/12 5/18 5/20 5/25 5/31 5/1 5/2 5/4 5/9 5/11 5/12 5/18 5/20 5/25 $ $5,710 5,290 6,740 5,450 6,940 5,280 4,200 4,669 6,159 469 540 СHK DEP 470 420 DEP СHK 1,290 390 СHK 471 DEP NOTE NSF 1,660 3,590 472 СHK INT 2,980 29 473 DEP СHK INT 590 EFT 1,490 49 474 СHK SF $9,908 $10,019 5/31 $6,139 5/25 5/31 49 SF 6,159 $ 9,908 $10,019 5/31 $6,139 DEP Customer deposit SF Service fees NSF Nonsufficient funds INT Interest earned Desc NOTE Note collected EFT Electronic funds transfer CHK Customer check 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, 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. 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 Bank's Cash Balance Company's Cash Balance Per bank statement Per general ledger Company balance per reconciliation Bank balance per reconciliation