Question 1. Preparing a bank reconciliation and journal entries [30 POINTS] 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: Explanations:BC-bank collection; EFT-electronic funds transfer, NSF-nonsufficient funds checks; SC-service charge 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 Requirements 1.Prepare the bank reconciliation of Dunlap Insurance at December 31,2022. 2.Journalize any required entries from the bank reconciliation