Question

DIAZ ENTERTAINMENT Cash Account Records May 1, 2021, to May 31, 2021 Cash Balance May 31, 2021 $5,200 Cash Balance Cash May 1, 2021 + Receipts $5,330 $11,790 Cash Receipts Date Desc. 5/3 Sales 5/10 Sales 5/17 Sales 5/24 Sales 5/31 Sales Amount $ 1,410 1,840 2,470 2,940 3,130 Date 5/7 5/12 5/15 5/22 5/30 5/31 Cash Disbursements $11,920 Cash Disbursements Check# Desc. 471 Legal fees 472 Property tax 473 Salaries 474 Advertising Supplies 476 Salaries Amount $ 1,250 1,620 3,550 1,450 500 3,550 $11,920 $11,790 Member FDIC ver: 7772854360 May 31, 2021 Ending Balance May 31, 2021 $6,455 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 $6,210 7 $9,948 9 $9,695 Account Details Deposits and Credits Withdrawals and Debits Date Amount Desc. Date No. Amount Desc. 5/4 $1,410 DEP 5/1 $ 500 5/11 1,840 DEP 470 CHK 5/18 2,470 DEP 5/9 4711 ,250 CHK 5/20 1,200 NOTE 5/11 350 NSF 5/20 55 INT 5/12 472 1,620 CHK 5/25 2,940 DEP 5/18 473 3,550 CHK 5/31 25 INT 5/20 550 EFT 5/25 474 1,450 5/31 45 $ 9,940 $9,695 CHK 5/1 5/2 Daily Balance Date Amount $5,710 5/2 5,330 5/4 6,740 5/9 5,490 5/11 6,980 5/12 5,360 4,280 5/20 4,985 5/25 6,475 $6,455 5/18 CHK 5/31

Answer 1

Bank's cash balance		Company's cash balance
Per Bank statement	6455	Per general ledger	5200
Deposits outstanding	3130	Interest earned	80
Checks outstanding	-4050	Note collected	1200
Bank error	550	NSF check	-350
		Service fees	-45
Bank balance per reconciliation	6085	Company balance per reconciliation	6085

1
General Journal	Debit	Credit
Cash	1280
Notes Receivable		1200
Interest revenue		80	=55+25
2
General Journal	Debit	Credit
Accounts Receivable	350
Service fee expense	45
Cash		395