Question

Required information Problem 4-3A Prepare the bank reconciliation and record cash adjustments (L04-5) [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 Cash Balance May 31, 2021 $5,460 May 1, 2021 + Cash Receipts $5,460 $11,140 Cash Receipts Date Desc. Amount 5/3 Sales $ 1,280 5/10 Sales 1,710 5/17 Sales 2,340 5/24 Sales 2,810 5/31 Sales 3,000 Date 5/7 5/12 5/15 5/22 5/30 5/31 Cash Disbursements $11,140 Cash Disbursements Check# Desc. 471 Legal fees 472 Property tax 473 Salaries 474 Advertising 475 Supplies 476 Salaries Amount $ 1,120 1,490 3,420 1,320 370 3,420 $11,140 $11,140 Member FDIC 7772854360 May 31, 2021 P.O. Box 162647 Midwest Bank Bowlegs, OK 74830 Looking Out For You (495) 369 -CASH Account Holder: Diaz Entertainment Account Number: 124 Saddle Blvd, Bowlegs, OK 74830 Statement Date: Account Summary Beginning Balance Deposits and Credits withdrawals and Debits May 1, 2021 NO Total NO. Total $6,080 7 $9,194 9 $8,642 Account Details Deposits and Credits withdrawals and Debits Date Amount Desc Date No. Amount Desc 5/4 $ 1,200 DEP 5/1 469 $ 370 5/11 CHK 1,710 DEP 5/2 470 250 5/18 CHK 2,340 DEP 5/9 471 1.12 CHK 5/20 1.000 NOTE 5/11 220 NSF Ending Balance May 31, 2021 $6,632 Daily Balance Date Amount 5/1 $5,719 5/2 5,460 5/4 6,740 5/9 5,620 ht

Answer 1

Requirement (1) Credit Requirement (2) No Transaction General Journal 1 1 Cash Notes Receivable Interest Earned Debit $1,054 $1,000 $ 54 Bank's Cash balance Per Bank Statement Deposits Outstanding $ Bank Error Check's Outstanding $ Diaz Entertainment Bank Reconicliation May 31, 2021. Company's Cash Balance 6,632 Per General Ledger $ 3,000 Note Collected $ 420 Interest Earned $ (3,790) Service Fee $ NSF Check $ 2 2 5,460 1,000 54 (32) (220) Service Fee Expense $ 32 Accounts Receivable $ 220 Cash $ 252 Bank Balance Per Reconciliation $ 6,262 Company Balance Per Reconciliation $ 6,262 Note : Please comment down for any further clarifications