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.

1. Prepare the bank reconciliation of Dunlap Insurance at December 31, 2015.
2. Journalize any required entries from the bankreconciliation.

  • CreatedJanuary 16, 2015
  • Files Included
Post your question