P$-$P:B$-34$B Preparing a bank reconciliation and journal entries $($Learning Objective $6)$

The May cash records of Karissa's Insurance follow:

$\backslash$begin$\{$tabular$\}\{|$c$|$c$|$c$|$c$|\}$

$\backslash$hline $\backslash$multicolumn$\{2\}\{|$r$|\}\{$Cash Recsipts$\}$ & $\backslash$multicolumn$\{2\}\{|$c$|\}\{$Cash Payments$\}\backslash \backslash$

$\backslash$hline Date & Cash Debit & Chack No$.$ & Cash Credit $\backslash \backslash$

$\backslash$hline May $4$ & $\backslash$$$4\mathrm{.}150$ & $1416$ & $550\backslash \backslash$

$\backslash$hline $9$ & $540$ & $1417$ & $160\backslash \backslash$

$\backslash$hline $14$ & $560$ & $1415$ & $670\backslash \backslash$

$\backslash$hline $17$ & $2,190$ & $1419$ & $1,690\backslash \backslash$

$\backslash$hline $31$ & $1,970$ & $1420$ & $1,450\backslash \backslash$

$\backslash$hline & & $1421$ & $1,200\backslash \backslash$

$\backslash$hline & & $1422$ & $640\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$

$5$:$10-49$

Karissa's Insurance's Cash account shows a balance of $\backslash (\backslash$$ $16,650\backslash )$ at May $31.$ On May $31,$ Karissa's Insurance received the following bank statement:

$\backslash$begin$\{$tabular$\}\{|$c$|$c$|$c$|$c$|$c$|\}$

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$c$|\}\{$Bank Statement for May$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{4\}\{|$l$|\}\{$Beginning Balance$\}$ & $\backslash$$$14,000\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$l$|\}\{$Deposits and other Credits:$\}\backslash \backslash$

$\backslash$hline May & $1$ & EFT & $\backslash (\backslash$$ $200\backslash )$ & $\backslash \backslash$

$\backslash$hline May & $5$ & & $4,150$ & $\backslash \backslash$

$\backslash$hline May & $10$ & & $540$ & $\backslash \backslash$

$\backslash$hline May & $15$ & & $560$ & $\backslash \backslash$

$\backslash$hline May & $18$ & & $2,190$ & $\backslash \backslash$

$\backslash$hline May & $22$ & BC & $1,700$ & $9,340\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$l$|\}\{$Checks and other Debits:$\}\backslash \backslash$

$\backslash$hline May & $8$ & NSF & $700$ & $\backslash \backslash$

$\backslash$hline May & $11($check no$.1416)$ & & $850$ & $\backslash \backslash$

$\backslash$hline May & $19$ & EFT & $400$ & $\backslash \backslash$

$\backslash$hline May & $22($check no$.1417)$ & & $160$ & $\backslash \backslash$

$\backslash$hline May & $29($check no$.1418)$ & & $670$ & $\backslash \backslash$

$\backslash$hline May & $31($check no$.1419)$ & & $1\mathrm{.}960$ & $\backslash \backslash$

$\backslash$hline May & $31$ & Sc & $10$ & $(4,750)\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{4\}\{|$l$|\}\{$Ending Balance$\}$ & $\backslash$$ $18,590\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$

Explanations: BC$-$bank collection; EFT$-$electronic funds transfer; NSF$-$nonsufficient funds checks: SC$-$service charge

Additional data for the bank reconciliation follow:

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 $\backslash (\backslash$$ $1,700\backslash )$ bank collection was for a note receivable.

d$.$ The correct amount of check $1419,$ for rent expense, is $\backslash$$$1,960.$ Karissa's Insurance's controller mistakenly recorded the check for $\backslash$$$1,690.$

Requirements

$1.$ Adjusted Balance $\backslash$$$17,170$

$1.$ Prepare the bank reconciliation of Karissa's Insurance at May $31,2025.$

$2.$ Journalize any required entries from the bank reconciliation.