Question: The December cash records of Dunlap Insurance follow

The December cash records of Dunlap Insurance follow:


Dunlap’s Cash account shows a balance of $16,740 at December 31. On
December 31, Dunlap Insurance received the following bank statement:


Additional data for the bank reconciliation follows:
a. The EFT credit was a receipt of rent. The EFT debit was an insurance payment.
b. The NSF check was received from a customer.
c. The $1,400 bank collection was for a note receivable.
d. The correct amount of check 1419 for rent expense is $1,940. Dunlap’s controller mistakenly recorded the check for $1,490.
Requirements
1. Prepare the bank reconciliation of Dunlap Insurance at December 31, 2012.
2. Journalize any required entries from the bankreconciliation.
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  • CreatedDecember 16, 2011
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