Question

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 May 1, 2021, to May 31, 2021 Cash Balance May 31, 2021 $5,280 Cash Balance Cash May 1, 2021 + Receipts $5,370 $11,590 Cash Receipts Date Desc. 5/3 Sales 5/10 sales 5/17 Sales 5/24 Sales 5/31 Sales Amount $ 1,370 1.800 2.430 2,900 3,090 472 Cash Disbursements $11,680 Cash Disbursement Check# Desc. 471 Legal fees Property tax 473 Salaries 474 Advertising Supplies 476 Salaries Date 5/7 5/12 5/15 5/22 5/30 5/31 Amount $ 1,210 1.580 3,510 1,410 460 3,510 $11,680 475 $11,590 Member FDIC 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, Bowlegs, OK 74830 Statement Date: Account Summary Withdrawals and Beginning Balance Deposits and Credits Debits May 1, 2021 NO. Total NO. Total $6. 1707 $9, 672 9 $9,371 Account Details Deposits and Credits Withdrawals and Debito Date Amount Amount Desc. Date No. Amount Desc. 5/4 $1,370 DEP 5/1 469 $ 460 CHK Ending Balance M ay 31, 2021 $6,471 Daily Balance Date Amount 5/1 $5,710 < Prev 9 10 of 10 Next >

Answer 1

Bank Reconciliation
May 31,2021
Bank's cash balance		Company's cash balance
Per Bank statement	6471	Per general ledger	5280
Deposits outstanding	3090	Interest earned	72
Checks outstanding	-3970	Note collected	1100
Bank error	510	NSF check	-310
		Service fees	-41
Bank balance per reconciliation	6101	Company balance per reconciliation	6101