Learning Objective 18-27A Preparing a bank reconciliation and journal entries The December cash records of Davidson Insurance follow 1. Adjusted Balance Cash Payments Cash Receipts Date Cash Debit Check No Cash Credit Dec. 4 $4,240 1416 $ 810 550 1417 180 600 1418 630 1,900 1419 1,390 1,860 1420 1,490 1421 700 1422 600 Davidson Cash account shows a balance of $17.450 at December 31. On December 31, Davidson Insurance received the following bank statement: $ 14,100 4.240 550 9,040 Bank Statement for December Beginning Balance Deposits and other Credits: Dec. 1 EFT $ 350 Dec. 5 Dec. 10 Dec. 15 600 Dec 18 1,900 Dec. 22 BC 1,400 Checks and other Debits: Dec. 8 400 Dec. 11 (check no. 1416) 810 Dec. 19 EFT 225 Dec. 22 (check no. 1417) 180 Dec. 29 (check no. 1418) 630 Dec. 31 (check no. 1419) 1,930 Dec. 31 10 Ending Balance NSF SC (4.185) $ 18,955 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 $1,400 bank collection was for a note receivable. d. The correct amount of check no. 1419, for rent expense, is $1,930. Davidson's controller mistakenly recorded the check for $1,390. Requirements 1. Prepare the bank reconciliation of Davidson Insurance at December 31, 2018. 2. Journalize any required entries from the bank reconciliation