P7-27A Preparing a bank reconciliation and journal entries [20–25 min] The December cash records of Dunlap Insurance follow:

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P7-27A Preparing a bank reconciliation and journal entries [20–25 min] 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:

TABLE

The EFT credit was a receipt of rent. The EFT debit was an insurance payment.
The NSF check was received from a customer.
The $1,400 bank collection was for a note receivable.
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 bank reconciliation