Prepare the bank reconciliation of Harvey insurance at December 31, 2024Journalize any required entries from the bank reconciliation estion listQuestion 5Data tableBeginning BalanceDeposits and other Credits:15Dec.DecDec.10Dec. 15Dec 18KDec22Checks and other DebitsDec.8Dec.11 (check no. 1416)Dec.19Dec. 22 (check no. 1417)Dec.29 (check no. 1418)dla 44401The December cash records of Harvey Insurance follow(Click the icon to view the checkbook)Bank Statement for DecemberHarvey's Cash account shows a balance of $17,380 at December 31. On December 31, HarveyInsurance received the following bank statement:(Click the icon to view the December bank statement.)- XEFT SBCNSFEFT1004,2304605902,1502,200100830275130660$13,8009,730Data tableCash ReceiptsDateDec. 4 S9141731Cash Debit4,2304605902,1501,780PrintCash PaymentsCheck No. Cash Credit1416 S830141713014186601419142014211422Done6801,5001,200630Additional data for the bank reconciliation follow:(Click the icon to view the additional information.)Read the requirements.More infoa.AThe EFT credit was a receipt of rent. The EFT debit was an insurancepayment.b. The NSF check was received from a customer.c. The $2,200 bank collection was for a note receivable.d. The correct amount of check no. 1419, for rent expense, is $860. Harvey'scontroller mistakenly recorded the check for $680.PrintDone Data tableDeposits and viner Creans.Dec.1Dec.5Dec.10Dec.15Dec.18Dec.22Checks and other Debits:Dec.Dec.Dec.Dec.Dec.Dec.Dec.811 (check no. 1416)1922 (check no. 1417)29 (check no. 1418)31 (check no. 1419)31Ending BalancePrintEFT SBCNSFEFTSC1004,2304605902,1502,200Done10083027513066086020$9,730(2,875)20,655-X

Note/Definition: Bank reconciliation statement is the statement prepared by company on a particular date to match the balance shown by bank pass book with the bank balance indicated in its cash book. Answer (1): Harvey Insurance Bank Reconciliation December 31,2024 Particulars Amount Amount Bank Balance ,December 31,2024 $20,655 Add: Deposits in transit $1,780 $22,435 Less: Outstanding checks Check No. 1420 $1,500 Check No. 1421 $1,200 Check No. 1422 $630 $3,330 Adjusted bank balance,December 31 ,2024 $19,105 Particulars Amount Amount Books: Balance,December 31,2024 $17,380 Add: EFT collection of rent $100 Bank collection - Notes receivables $2,200 $2,300 $19,680 Less: NSF check $100 EFT payment insurance $275 Service charges $20 Correction of book error ($860 - $680) $180 $575 Adjusted book balance,December 31,2024 $19,105 Answer (2) Journal Entries: Date Accounts & Explanation Debit Credit Dec. 31 Cash $100 Rent revenue $100 (To record the EFT collection) Dec. 31 Cash $2,200 Notes receivables $2,200 (To record the collection of notes) Dec. 31 Accounts receivables $100 Cash $100 (To record the NSF check) Dec. 31 Insurance expenses $275 Cash $275 (To record the EFT payment for insurance) Dec. 31 Miscellaneous expenses $20 Cash $20 (To record the service charge) Dec. 31 Rent expense $180 Cash $180 (To record the entry to correct the error)