diff --git a/Doxygen b/Doxygen
index 40c92752a..a410d5269 100644
--- a/Doxygen
+++ b/Doxygen
@@ -38,7 +38,7 @@ PROJECT_NAME           = "ESPHome"
 # could be handy for archiving the generated documentation or if some version
 # control system is used.
 
-PROJECT_NUMBER         = 2023.5.2
+PROJECT_NUMBER         = 2023.5.3
 
 # Using the PROJECT_BRIEF tag one can provide an optional one line description
 # for a project that appears at the top of each page and should give viewer a
diff --git a/Makefile b/Makefile
index 978b2eb5f..517b1bc94 100644
--- a/Makefile
+++ b/Makefile
@@ -1,5 +1,5 @@
 ESPHOME_PATH = ../esphome
-ESPHOME_REF = 2023.5.2
+ESPHOME_REF = 2023.5.3
 
 .PHONY: html html-strict cleanhtml deploy help live-html Makefile netlify netlify-api api netlify-dependencies svg2png copy-svg2png minify
 
diff --git a/_static/version b/_static/version
index 45b7ebbb8..d4a807232 100644
--- a/_static/version
+++ b/_static/version
@@ -1 +1 @@
-2023.5.2
\ No newline at end of file
+2023.5.3
\ No newline at end of file
diff --git a/changelog/2023.5.0.rst b/changelog/2023.5.0.rst
index 0c1f411d1..21098269b 100644
--- a/changelog/2023.5.0.rst
+++ b/changelog/2023.5.0.rst
@@ -65,6 +65,12 @@ Release 2023.5.2 - May 22
 
 - Fix i2s_audio media_player mutex acquisition :esphomepr:`4867` by :ghuser:`kroimon`
 
+Release 2023.5.3 - May 22
+-------------------------
+
+- Allow microphone channel to be specified in config :esphomepr:`4871` by :ghuser:`jesserockz`
+- [PSRam] Change log unit to KB to minimize rounding error. :esphomepr:`4872` by :ghuser:`Fabian-Schmidt`
+
 Full list of changes
 --------------------
 
diff --git a/components/microphone/i2s_audio.rst b/components/microphone/i2s_audio.rst
index c87b4280e..008acaa98 100644
--- a/components/microphone/i2s_audio.rst
+++ b/components/microphone/i2s_audio.rst
@@ -31,6 +31,7 @@ Configuration variables:
   - ``external``: Use an external ADC connected to the I²S bus.
   - ``internal``: Use the internal ADC of the ESP32. Only supported on ESP32, no variant support.
 
+- **channel** (*Optional*, enum): The channel of the microphone. One of ``left`` or ``right``. Defaults to ``right``.
 - **i2s_audio_id** (*Optional*, :ref:`config-id`): The ID of the :ref:`I²S Audio <i2s_audio>` you wish to use for this microphone.
 - All other options from :ref:`Microphone <config-microphone>`
 
diff --git a/conf.py b/conf.py
index ac238031b..cada2c4ab 100644
--- a/conf.py
+++ b/conf.py
@@ -69,7 +69,7 @@ author = "ESPHome"
 # The short X.Y version.
 version = "2023.5"
 # The full version, including alpha/beta/rc tags.
-release = "2023.5.2"
+release = "2023.5.3"
 
 # The language for content autogenerated by Sphinx. Refer to documentation
 # for a list of supported languages.
diff --git a/guides/supporters.rst b/guides/supporters.rst
index 524e78c05..33d408360 100644
--- a/guides/supporters.rst
+++ b/guides/supporters.rst
@@ -64,7 +64,7 @@ Contributors
 - `Alexandre Danault (@AlexDanault) <https://github.com/AlexDanault>`__
 - `Alex Iribarren (@alexiri) <https://github.com/alexiri>`__
 - `Alex Mekkering (@AlexMekkering) <https://github.com/AlexMekkering>`__
-- `Alex (@alexyao2015) <https://github.com/alexyao2015>`__
+- `Alex Yao (@alexyao2015) <https://github.com/alexyao2015>`__
 - `Alfredo (@alfredopironti) <https://github.com/alfredopironti>`__
 - `Andreas Mandel (@amandel) <https://github.com/amandel>`__
 - `Amish Vishwakarma (@amishv) <https://github.com/amishv>`__
@@ -80,12 +80,12 @@ Contributors
 - `Andreas Hergert (@andreashergert1984) <https://github.com/andreashergert1984>`__
 - `Andrew J.Swan (@andrewjswan) <https://github.com/andrewjswan>`__
 - `andrewpc (@andrewpc) <https://github.com/andrewpc>`__
-- `Andrey Yantsen (@andrey-yantsen) <https://github.com/andrey-yantsen>`__
+- `Andrew Y. (@andrey-yantsen) <https://github.com/andrey-yantsen>`__
 - `Andrzej (@andriej) <https://github.com/andriej>`__
 - `Andreas (@anduchs) <https://github.com/anduchs>`__
 - `Andy2No (@Andy2No) <https://github.com/Andy2No>`__
 - `AndyRPH (@AndyRPH) <https://github.com/AndyRPH>`__
-- `Vegetto (@angelnu) <https://github.com/angelnu>`__
+- `Angel Nunez Mencias (@angelnu) <https://github.com/angelnu>`__
 - `Sergey Anisimov (@anisimovsergey) <https://github.com/anisimovsergey>`__
 - `Nikolay Vasilchuk (@Anonym-tsk) <https://github.com/Anonym-tsk>`__
 - `Anthony Keane (@anthonykeane) <https://github.com/anthonykeane>`__
@@ -111,12 +111,12 @@ Contributors
 - `Alexander Turlov (@aturlov) <https://github.com/aturlov>`__
 - `aus (@aus) <https://github.com/aus>`__
 - `AustinMorris (@AustinMorris) <https://github.com/AustinMorris>`__
-- `Avirsaam (@Avirsaam) <https://github.com/Avirsaam>`__
+- `Denis Demchenko (@Avirsaam) <https://github.com/Avirsaam>`__
 - `Arsène von Wyss (@avonwyss) <https://github.com/avonwyss>`__
 - `Andrew Weddle (@aweddle2) <https://github.com/aweddle2>`__
 - `Achilleas Pipinellis (@axilleas) <https://github.com/axilleas>`__
 - `Kamil Trzciński (@ayufan) <https://github.com/ayufan>`__
-- `Nicholas Peters (@Azimath) <https://github.com/Azimath>`__
+- `Azimath (@Azimath) <https://github.com/Azimath>`__
 - `Daniel (@azrael783) <https://github.com/azrael783>`__
 - `B48D81EFCC (@B48D81EFCC) <https://github.com/B48D81EFCC>`__
 - `Florian Mösch (@badbadc0ffee) <https://github.com/badbadc0ffee>`__
@@ -131,7 +131,7 @@ Contributors
 - `Bascht74 (@Bascht74) <https://github.com/Bascht74>`__
 - `Viktr (@BbIKTOP) <https://github.com/BbIKTOP>`__
 - `J. Nick Koston (@bdraco) <https://github.com/bdraco>`__
-- `Maxim Ocheretianko (@bearpawmaxim) <https://github.com/bearpawmaxim>`__
+- `Maxym Ocheretianko (@bearpawmaxim) <https://github.com/bearpawmaxim>`__
 - `beaudeanadams (@beaudeanadams) <https://github.com/beaudeanadams>`__
 - `Benjamin Freeman (@Beetix) <https://github.com/Beetix>`__
 - `beikeland (@beikeland) <https://github.com/beikeland>`__
@@ -151,7 +151,7 @@ Contributors
 - `Ivan Bessarabov (@bessarabov) <https://github.com/bessarabov>`__
 - `Brandon (@bgulla) <https://github.com/bgulla>`__
 - `Benedikt Hübschen (@bhuebschen) <https://github.com/bhuebschen>`__
-- `Bierchermuesli (@Bierchermuesli) <https://github.com/Bierchermuesli>`__
+- `Stef (@Bierchermuesli) <https://github.com/Bierchermuesli>`__
 - `Bill Church (@billchurch) <https://github.com/billchurch>`__
 - `Brian Kaufman (@bkaufx) <https://github.com/bkaufx>`__
 - `JDavid (@blackhack) <https://github.com/blackhack>`__
@@ -169,7 +169,7 @@ Contributors
 - `Mauricio Bonani (@bonanitech) <https://github.com/bonanitech>`__
 - `Casey Olson (@bookcasey) <https://github.com/bookcasey>`__
 - `Borja Burgos (@borjaburgos) <https://github.com/borjaburgos>`__
-- `BoukeHaarsma23 (@BoukeHaarsma23) <https://github.com/BoukeHaarsma23>`__
+- `bouhaa (@BoukeHaarsma23) <https://github.com/BoukeHaarsma23>`__
 - `brambo123 (@brambo123) <https://github.com/brambo123>`__
 - `Bram Kragten (@bramkragten) <https://github.com/bramkragten>`__
 - `Brandan Cotton (@Brando47) <https://github.com/Brando47>`__
@@ -287,7 +287,7 @@ Contributors
 - `Daniel Correa Lobato (@dclobato) <https://github.com/dclobato>`__
 - `DeadEnd (@DeadEnded) <https://github.com/DeadEnded>`__
 - `Debashish Sahu (@debsahu) <https://github.com/debsahu>`__
-- `declanshanaghy (@declanshanaghy) <https://github.com/declanshanaghy>`__
+- `Dek Shanaghy (@declanshanaghy) <https://github.com/declanshanaghy>`__
 - `Maximilian (@DeerMaximum) <https://github.com/DeerMaximum>`__
 - `definitio (@definitio) <https://github.com/definitio>`__
 - `Christiaan Blom (@Deinara) <https://github.com/Deinara>`__
@@ -334,7 +334,7 @@ Contributors
 - `Tom Soer (@dtx3k) <https://github.com/dtx3k>`__
 - `dubit0 (@dubit0) <https://github.com/dubit0>`__
 - `Mikkel Jeppesen (@Duckle29) <https://github.com/Duckle29>`__
-- `Sergey V. DUDANOV (@dudanov) <https://github.com/dudanov>`__
+- `Sergey Dudanov (@dudanov) <https://github.com/dudanov>`__
 - `David Girón (@duhow) <https://github.com/duhow>`__
 - `Duncan Findlay (@duncf) <https://github.com/duncf>`__
 - `Jannick (@DutchDeffy) <https://github.com/DutchDeffy>`__
@@ -488,7 +488,7 @@ Contributors
 - `Héctor Giménez (@hectorgimenez) <https://github.com/hectorgimenez>`__
 - `Jimmy Hedman (@HeMan) <https://github.com/HeMan>`__
 - `Hemi03 (@Hemi03) <https://github.com/Hemi03>`__
-- `HepoH3 (@HepoH3) <https://github.com/HepoH3>`__
+- `Andrei Solodovnikov (@HepoH3) <https://github.com/HepoH3>`__
 - `Hermann Kraus (@herm) <https://github.com/herm>`__
 - `Herr Frei (@herrfrei) <https://github.com/herrfrei>`__
 - `highground88 (@highground88) <https://github.com/highground88>`__
@@ -509,7 +509,7 @@ Contributors
 - `Adrián Panella (@ianchi) <https://github.com/ianchi>`__
 - `Ian Anderson (@ianderso) <https://github.com/ianderso>`__
 - `Ian Leeder (@ianleeder) <https://github.com/ianleeder>`__
-- `Jan Pobořil (@iBobik) <https://github.com/iBobik>`__
+- `Honza Pobořil (@iBobik) <https://github.com/iBobik>`__
 - `igg (@igg) <https://github.com/igg>`__
 - `Ignacio Hernandez-Ros (@IgnacioHR) <https://github.com/IgnacioHR>`__
 - `ikatkov (@ikatkov) <https://github.com/ikatkov>`__
@@ -604,13 +604,13 @@ Contributors
 - `Jonathan Treffler (@JonathanTreffler) <https://github.com/JonathanTreffler>`__
 - `JonnyaiR (@jonnyair) <https://github.com/jonnyair>`__
 - `Jonathan V (@jonofmac) <https://github.com/jonofmac>`__
-- `Joppy (@JoppyFurr) <https://github.com/JoppyFurr>`__
+- `Joppy Furr (@JoppyFurr) <https://github.com/JoppyFurr>`__
 - `Jared Sanson (@jorticus) <https://github.com/jorticus>`__
 - `Joshua Spence (@joshuaspence) <https://github.com/joshuaspence>`__
 - `joskfg (@joskfg) <https://github.com/joskfg>`__
 - `Joscha Wagner (@jowgn) <https://github.com/jowgn>`__
 - `Javier Peletier (@jpeletier) <https://github.com/jpeletier>`__
-- `jsuanet (@jsuanet) <https://github.com/jsuanet>`__
+- `Jos Suanet (@jsuanet) <https://github.com/jsuanet>`__
 - `James Szalay (@jtszalay) <https://github.com/jtszalay>`__
 - `Jules-R (@Jules-R) <https://github.com/Jules-R>`__
 - `Julie Koubová (@juliekoubova) <https://github.com/juliekoubova>`__
@@ -619,7 +619,7 @@ Contributors
 - `Justin Gerhardt (@justin-gerhardt) <https://github.com/justin-gerhardt>`__
 - `Justyn Shull (@justyns) <https://github.com/justyns>`__
 - `Jasper van der Neut - Stulen (@jvanderneutstulen) <https://github.com/jvanderneutstulen>`__
-- `João Vitor M. Roma (@jvmr1) <https://github.com/jvmr1>`__
+- `João Vitor Miranda Roma (@jvmr1) <https://github.com/jvmr1>`__
 - `Jack Wozny (@jwozny) <https://github.com/jwozny>`__
 - `Jozef Zuzelka (@jzlka) <https://github.com/jzlka>`__
 - `Kris (@K-r-i-s-t-i-a-n) <https://github.com/K-r-i-s-t-i-a-n>`__
@@ -654,7 +654,7 @@ Contributors
 - `Karl Q. (@kquinsland) <https://github.com/kquinsland>`__
 - `Kodey Converse (@krconv) <https://github.com/krconv>`__
 - `KristopherMackowiak (@KristopherMackowiak) <https://github.com/KristopherMackowiak>`__
-- `kroimon (@kroimon) <https://github.com/kroimon>`__
+- `Stefan Rado (@kroimon) <https://github.com/kroimon>`__
 - `krunkel (@krunkel) <https://github.com/krunkel>`__
 - `kryptonitecb3 (@kryptonitecb3) <https://github.com/kryptonitecb3>`__
 - `Kendell R (@KTibow) <https://github.com/KTibow>`__
@@ -670,7 +670,7 @@ Contributors
 - `Lawrie George (@lawriege) <https://github.com/lawriege>`__
 - `Laszlo Gazdag (@lazlyhu) <https://github.com/lazlyhu>`__
 - `Ludovic BOUÉ (@lboue) <https://github.com/lboue>`__
-- `lcavalli (@lcavalli) <https://github.com/lcavalli>`__
+- `Luca Cavalli (@lcavalli) <https://github.com/lcavalli>`__
 - `Craig Fletcher (@leakypixel) <https://github.com/leakypixel>`__
 - `Dominik Wagenknecht (@LeDominik) <https://github.com/LeDominik>`__
 - `Benny de Leeuw (@leeuwte) <https://github.com/leeuwte>`__
@@ -679,7 +679,7 @@ Contributors
 - `Leon Loopik (@Lewn) <https://github.com/Lewn>`__
 - `Luca Gugelmann (@lgugelmann) <https://github.com/lgugelmann>`__
 - `Lubos Horacek (@lhoracek) <https://github.com/lhoracek>`__
-- `Juraj Liso (@LiJu09) <https://github.com/LiJu09>`__
+- `LiJu09 (@LiJu09) <https://github.com/LiJu09>`__
 - `lillborje71 (@lillborje71) <https://github.com/lillborje71>`__
 - `lingex (@lingex) <https://github.com/lingex>`__
 - `Markus (@Links2004) <https://github.com/Links2004>`__
@@ -690,6 +690,7 @@ Contributors
 - `Barry Loong (@loongyh) <https://github.com/loongyh>`__
 - `Michael Bisbjerg (@LordMike) <https://github.com/LordMike>`__
 - `LuBeDa (@lubeda) <https://github.com/lubeda>`__
+- `Lucas Reiners (@lucasreiners) <https://github.com/lucasreiners>`__
 - `Joakim Sørensen (@ludeeus) <https://github.com/ludeeus>`__
 - `ludrao (@ludrao) <https://github.com/ludrao>`__
 - `Lukas Klass (@LukasK13) <https://github.com/LukasK13>`__
@@ -701,7 +702,7 @@ Contributors
 - `Ohad Lutzky (@lutzky) <https://github.com/lutzky>`__
 - `Luke Fitzgerald (@lwfitzgerald) <https://github.com/lwfitzgerald>`__
 - `Alex Peters (@Lx) <https://github.com/Lx>`__
-- `M95D (@M95D) <https://github.com/M95D>`__
+- `Marius Dinu (@M95D) <https://github.com/M95D>`__
 - `maaadc (@maaadc) <https://github.com/maaadc>`__
 - `Marc-Antoine Courteau (@macourteau) <https://github.com/macourteau>`__
 - `Massimiliano Ravelli (@madron) <https://github.com/madron>`__
@@ -853,7 +854,7 @@ Contributors
 - `obrain17 (@obrain17) <https://github.com/obrain17>`__
 - `Ockert Marais (@OckertM) <https://github.com/OckertM>`__
 - `Dave Walker (@oddsockmachine) <https://github.com/oddsockmachine>`__
-- `Andrey Ganzevich (@odya) <https://github.com/odya>`__
+- `Andrii Ganzevych (@odya) <https://github.com/odya>`__
 - `ogatatsu (@ogatatsu) <https://github.com/ogatatsu>`__
 - `Oğuzhan Başer (@oguzhanbaser) <https://github.com/oguzhanbaser>`__
 - `OkhammahkO (@OkhammahkO) <https://github.com/OkhammahkO>`__
@@ -861,7 +862,7 @@ Contributors
 - `Ömer Şiar Baysal (@omersiar) <https://github.com/omersiar>`__
 - `optimusprimespace (@optimusprimespace) <https://github.com/optimusprimespace>`__
 - `Oscar Bolmsten (@oscar-b) <https://github.com/oscar-b>`__
-- `Otamay (@Otamay) <https://github.com/Otamay>`__
+- `Mauri (@Otamay) <https://github.com/Otamay>`__
 - `Otto Winter (@OttoWinter) <https://github.com/OttoWinter>`__
 - `Maxime Dufour (@outscale-mdr) <https://github.com/outscale-mdr>`__
 - `Ben Owen (@owenb321) <https://github.com/owenb321>`__
@@ -932,7 +933,7 @@ Contributors
 - `Robert Gabrielson (@rgabrielson11) <https://github.com/rgabrielson11>`__
 - `Rafael Goes (@rgriffogoes) <https://github.com/rgriffogoes>`__
 - `rheinz (@rheinz) <https://github.com/rheinz>`__
-- `richardhopton (@richardhopton) <https://github.com/richardhopton>`__
+- `Richard Hopton (@richardhopton) <https://github.com/richardhopton>`__
 - `Richard Klingler (@richardklingler) <https://github.com/richardklingler>`__
 - `Richard Lewis (@richrd) <https://github.com/richrd>`__
 - `Andre Borie (@Rjevski) <https://github.com/Rjevski>`__
@@ -1021,7 +1022,7 @@ Contributors
 - `sticilface (@sticilface) <https://github.com/sticilface>`__
 - `Stijn Tintel (@stintel) <https://github.com/stintel>`__
 - `Mathias Stock (@Stock-M) <https://github.com/Stock-M>`__
-- `Strixx76 (@Strixx76) <https://github.com/Strixx76>`__
+- `Daniel Jönsson (@Strixx76) <https://github.com/Strixx76>`__
 - `stubs12 (@stubs12) <https://github.com/stubs12>`__
 - `Jordan Vohwinkel (@sublime93) <https://github.com/sublime93>`__
 - `sud33p (@sud33p) <https://github.com/sud33p>`__
@@ -1065,7 +1066,7 @@ Contributors
 - `Thomas Langewouters (@thouters) <https://github.com/thouters>`__
 - `Transylvania High Tech (@thtro) <https://github.com/thtro>`__
 - `Thunderbiscuits (@Thunderbiscuits) <https://github.com/Thunderbiscuits>`__
-- `tiagofreire-pt (@tiagofreire-pt) <https://github.com/tiagofreire-pt>`__
+- `Tiago Freire (@tiagofreire-pt) <https://github.com/tiagofreire-pt>`__
 - `Tijs-B (@Tijs-B) <https://github.com/Tijs-B>`__
 - `Tim Laurence (@timdaman) <https://github.com/timdaman>`__
 - `Aidan Timson (@timmo001) <https://github.com/timmo001>`__
@@ -1074,7 +1075,7 @@ Contributors
 - `Tinkerfish (@tinkerfish) <https://github.com/tinkerfish>`__
 - `TJ Horner (@tjhorner) <https://github.com/tjhorner>`__
 - `Christian (@Tntdruid) <https://github.com/Tntdruid>`__
-- `Philipp Tölke (@toelke) <https://github.com/toelke>`__
+- `Philipp Riederer (@toelke) <https://github.com/toelke>`__
 - `tomaszduda23 (@tomaszduda23) <https://github.com/tomaszduda23>`__
 - `Tom Brien (@TomBrien) <https://github.com/TomBrien>`__
 - `Tom Hartogs (@TomHartogs) <https://github.com/TomHartogs>`__
@@ -1083,7 +1084,7 @@ Contributors
 - `Tom Price (@tomtom5152) <https://github.com/tomtom5152>`__
 - `David Kiliani (@torfbolt) <https://github.com/torfbolt>`__
 - `tracestep (@tracestep) <https://github.com/tracestep>`__
-- `Felix Eckhofer (@tribut) <https://github.com/tribut>`__
+- `Felix E (@tribut) <https://github.com/tribut>`__
 - `Trick van Staveren (@trickv) <https://github.com/trickv>`__
 - `TripitakaBC (@TripitakaBC) <https://github.com/TripitakaBC>`__
 - `Tobias (@tripplet) <https://github.com/tripplet>`__
@@ -1125,7 +1126,7 @@ Contributors
 - `Ian Wells (@wellsi) <https://github.com/wellsi>`__
 - `wifwucite (@wifwucite) <https://github.com/wifwucite>`__
 - `wilberforce (@wilberforce) <https://github.com/wilberforce>`__
-- `wildekek (@wildekek) <https://github.com/wildekek>`__
+- `Willem Vooijs (@wildekek) <https://github.com/wildekek>`__
 - `Wingman3434 (@Wingman3434) <https://github.com/Wingman3434>`__
 - `Emil Hesslow (@WizKid) <https://github.com/WizKid>`__
 - `WJCarpenter (@wjcarpenter) <https://github.com/wjcarpenter>`__
@@ -1140,9 +1141,8 @@ Contributors
 - `Mike Brown (@xenoxaos) <https://github.com/xenoxaos>`__
 - `Xose Pérez (@xoseperez) <https://github.com/xoseperez>`__
 - `WitchKing (@xvil) <https://github.com/xvil>`__
-- `Yaroslav (@Yarikx) <https://github.com/Yarikx>`__
+- `Yaroslav Heriatovych (@Yarikx) <https://github.com/Yarikx>`__
 - `Marcin Jaworski (@yawor) <https://github.com/yawor>`__
-- `Nico B (@youknow0) <https://github.com/youknow0>`__
 - `Yuval Aboulafia (@yuvalabou) <https://github.com/yuvalabou>`__
 - `Björn Stenberg (@zagor) <https://github.com/zagor>`__
 - `david reid (@zathras777) <https://github.com/zathras777>`__