I need help with this question parts please! [The following information applies

Question

I need help with this question parts please! [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, 2018, to May 31, 2018 Cash Balance Cash Balance Checks May 31, 2018 May 1, 2018 Deposits $5,3001940 $12.100 $5,140 Deposits Checks Date Desc Amount Date No Desc Amount 5/3 Sales 1,440 1,870 2,500 2,970 3,160 o Sales 7Sales 5/24 Sales 5/31 Sales 5/7471 Legal fees 5/12 472Property tax 5/15 473 Salaries 5/22 474 Advertising 5/30 475 Supplies 5/31 476 Salaries 1,280 1,650 3,580 1.480 530 3,580 5/10 $11,940 $12,100

Explanation / Answer

Bank Reconciliation: Bank Cash balance Company Cash balance Bank Balance as per bank statement 6,368.00 Cash balance as per Books 5140 Add: Deposits in transit 3,160.00 Add: Interest earned 86 Add: Error in debit EFT 580.00 Add: Note collected 1200 10,108.00 6426 Less: Cheques issued not presented 4110 Less: NSF check 380 Less; Service charges debited 48 Adjusted Bank Balance 5998 Adjusted Balance as per Books 5998 Journal entries: S.no. Accounts title and explanations Debit $ Credit $ a. Cash account Dr. 1286     Interest revenue 86     Note receivable 1200 b. Accounts receivable Dr. 380 Misc. expenses Dr. 48       Cash account 428

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