Bank Reconciliation Onjuly 31, Sullivan Company's Cash in Bank account had a balance of $7,938.26. On that date, the bank statement indicated a balance of 510,008.41. A comparison of returned checks and bank advices revealed the following: 1. Deposits in transit July 31 amounted to $3,934.64 2. Outstanding checks July 31 totaled $1,614.69. 3. The bank erroneously charged a $357.50 check of Solomon Company against the Sulivan bank account. 4. A bank service charge has not yet been recorded by Sullivan Company of $27.50. 5. Sulivan neglected to record $4,400.00 borrowed from the bank on a ten percent six-month note. The bank statement shows the $4,400,00 as a deposit 6. Included with the returned checks is a memo indicating that). Martin's check for 5704.00 had been returned NSF. Martin, a customer, had sent the che discount: 7. Sullivan Company recorded a $119,90 payment for repairsas $1,199.00 Required a. Prepare a bank reconciliation for Sullivan Company at July 31. b. Prepare the joumal entry (or entries) necessary to bring the Cash in Bank account into agreement with the reconciled cash balance on the bank reconciliati Note: Do not round answers - enter using two decimal places, when needed