Gloria maintains a checking account at First Bank. On the third day of January, the bank sent her a statement of her account for December accompanied by the checks that the bank had paid. One of the checks had her forged signature, which Gloria discovered on the 25th of the month when she prepared a bank reconciliation. On discovering this, Gloria immediately notified the bank. On January 21, the bank had paid another check forged by the same party who had forged the December item. Who must bear the loss on the forged January check?