The May cash records of Davis Insurance follow: (Click the icon to view the cash records.) Davis's Cash account shows a balance of $17,120 at May 31. On May 31, Davis Insurance received the following bank statement: (Click the icon to view the May bank statement.) Additional data for the bank reconciliation is provided. (Click the icon to view the additional information.) Required Davis Insurance Bank Reconciliation May 31, 2020 Bank: Balance, May 31, 2020 Add: Deposit in transit Less: W our X Cash records en Cash Receipts Cash Payments Date Cash Debit Cheque No. Cash Credit May 4 $ 4.220 1416 $ 870 9 460 100 550 1418 660 2.100 1419 1.490 31 1.850 1420 1.410 1421 840 1422 690 Print Done BANK STATEMENT FOR MAY BEGINNING BALANCE TOTAL DEPOSITS TOTAL WITHDRAWALS SERVICE CHARGES ENDING BALANCE $ 14,000 9.580 4,945 40 $ 18,595 TRANSACTIONS DEPOSITS DATE AMOUNT EFT 05/01 400 05/05 4,220 05/10 460 Deposit Deposit Deposit Deposit 05/15 550 05/18 2.100 BC B 05/22 1,850 Print Done Bank statement X Deposit VOETU 400 Deposit 05/15 550 Deposit 05/18 2,100 BC 05/22 1.850 CHARGES DATE AMOUNT Service Charge 05/31 CHEQUES Number Amount Number Amount Number Amount 1416 870 1418 660 1419 1.940 Print Done Question 1. Problem 8-6... HW Score: 0%. O of 70 points Bank statement 10 x Service Charge 05/31 40 CHEQUES Number Amount Number Amount Number Amount 1416 870 1418 660 1417 100 1419 1,940 OTHER DEDUCTIONS DATE AMOUNT NSF 05/08 950 EFT 05/19 425 Explanations: BC-bank collection: EFT-electronic funds transfer: NSF-nonsufficient funds cheques SC-service charge Print Done count shows icon to view For the bank con to view Additional information a. The EFT credit was a receipt of rent. The EFT debit was an insurance payment b. The NSF cheque was received from a customer. c. The $1.850 bank collection was for a note receivable. d. The correct amount of cheque no. 1419, for rent expense, is $1.940. Davis's controller mistakenly recorded the cheque for $1.490. 31, 2020 sit in transit Print Done icon to view the cash records.) Ecount shows a balance of $17,120 at May 31. On May 31, Davis Insurance received the following bank statement: icon to view the May bank statement.) For the bank re x con to view th Required 1. Prepare the bank reconciliation of Davis Insurance at May 31, 2020. 2. Journalize any required entries from the bank reconciliation. 1. 2020 it in transit Print Done The May cash records of Davis Insurance follow: B: (Click the icon to view the cash records.) Davis's Cash account shows a balance of $17.120 at May 31. On May 31. Davis Insurance received the following bank statement: ES: (Click the icon to view the Mav bank statement.) Requirement 1. Prepare the bank reconciliation of Davis Insurance at May 31, 2020 Prepare the bank portion of the reconciliation, followed by the book portion of the reconciliation. Davis Insurance Bank Reconciliation May 31, 2020 Bank: Balance, May 31, 2020 Add: Deposit in transit Less