Question

Required information [The following information applies to the questions displayed below.) The cash records and bank statement for the month of May for Diał Entertainment are shown below. DIAZ ENTERTAINMENT Cash Account Records May 1, 2021, to May 31, 2021 Cash Balance May 31, 2021 $5,500 Cash Balance Cash May 1, 2021 + Receipts $5,480 $11,840 Cash Receipts Date Desc. 5/3 Sales 5/10 Sales 5/17 Sales 5/24 Sales 5/31 Sales Amount $ 1,260 1,690 2,320 2,790 2,980 Date 5/7 5/12 5/15 5/22 5/30 5/31 Cash Disbursements $11,020 Cash Disbursements Check Desc. 471 Legal fees 472 Property tax 473 Salaries 474 Advertising 475 Supplies 476 Salaries Amount $ 1,100 1,470 3,400 1,300 350 3,400 $11,020 $11,040 Member FDIC 7772854360 May 31, 2021 P.0. 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 $6,060 7 $9,310 9 $8,480 Account Details Deposits and Credits Withdrawals and Debits Date Amount Desc. Date No. Amount Desc. 5/4 $ 1,260 DEP 5/1 469 $ 350 CHK 5/11 1,690 DEP 5/2 478 230 CHK 5/18 2,320 DEP 5/9 471 1,100 CHK 5/20 1,200 NOTE 5/11 200 NSF TRIT 6/19 A77 1 A7 ru Ending Balance May 31, 2021 $6,890 Daily Balance Date Amount 5/1 $5,710 5/2 5,480 5/4 6,740 5/9 5,640 5/19 712 AA

Answer 1

Diaz Entertainment Bank reconciliation
Bank's Cash balance		Company's Cash Balance
Ending balance as per bank statement	6890	Ending Balance as per general ledger	5500
Additions		Additions
Outstanding deposits	2980	Interest earned	10
Bank error	400	Note collection(Including interest) 1200+40	1240
Deductions		Deductions
Outstanding Checks 350+3400	-3750	NSF cheque	-200
		Service Cheque	-30
	6520		6520