Cash Balance July 1, Cash 2021 + $6,910 Receipts $8,270 The cash records and bank statement for the month of July for Glover Incorporated are shown below. GLOVER INCORPORATED Cash Account Records July 1, 2021, to July 31, 2021 Cash Disbursements $8,460 Cash Balance July 31, 2021 $6,720 Cash Receipts Cash Disbursements Date Desc. Amount Date: Check# Desc. 7/9 Sales $2,510 7/7 531 Rent 7/21 Sales 3,090 7/12 532 Salaries 7/31 Sales 2,670 7/19 533 Equipment 7/22 534 Utilities 7/30 535 Advertising Amount $1,450 1,910 3,000 850 1,250 $8,270 $8,460 NO. 3 $5,645 P.O. Box 123878 Gotebo, OK 73041 (580) 377-OKIE Account Holder: Beginning Balance July 1, 2021 $7,450 Glover Incorporated 519 Main Street Gotebo, OK 73041 Deposits and Credits FIDELITY UNION You Can Bank On Us Deposits and Credits Account Number: Statement Date: Withdrawals and Debits 2252798471 July 31, 2021 Ending Balance July 31, 2021 $5,050 Daily Balance NO. 7 Withdrawals and Debits Member FDIC Total Total $ 8,045 Date 7/10 Amount Desc. Date No. Amount Desc. Date Amount $2,510 DEP 7/2 530 $ 540 CHK 7/2 $6,910 7/22 3,090 DEP 7/10 531 1,450 CHK 7/10 7,970 7/31 45 INT 7/14 532 1,910 CHK 7/14 6,060 7/18 350 NSF 7/18 5,710 7/22 533 3,300 CHK 7/22 5,500 7/26 450 EFT 7/26 5,050 7/30 45 SF 7/30 5,005 7/31 $5,050 Desc. $5,645 DEP Customer deposit NOTE Note collected FET Flactannic funds trancfan $8,045 INT Interest earned CHK Customer check SF Service fees NSF Nonsufficient funds Desc. DEP Customer deposit NOTE Note collected INT Interest earned SF Service fees CHK Customer check NSF Nonsufficient funds EFT Electronic funds transfer Additional information: a. The difference in the beginning balances in the company's records and the bank statement relates to check #530, which is outstanding as of June 30, 2021. b. Check #533 is correctly processed by the bank. c. The EFT on July 26 relates to the purchase of office supplies. Required: 1. Prepare a bank reconciliation for Glover's checking account on July 31, 2021. (Amounts to be deducted should be indicated with a minus sign. Total entries to the same account together when entering in the bank reconciliation.) Bank's Cash Balance Per bank statement GLOVER INCORPORATED Bank Reconciliation July 31, 2021 Company's Cash Balance Per general ledger Bank balance per reconciliation Company balance per reconciliation