E$7\mathrm{.}8($LO $3)($Prepare bank reconciliation and journal entries.$)$ The following information is for Neopolitan Ltd$.$ in July:Cash balance per bank, July $31,$ $$10,670$Cash balance per books, July $31,$ $$9,277$Bank service charge, $$40$Deposits in transit, $$1,968$Electronic receipts from customers in payment of their accounts, $$1,276,$ not previously recorded by the companyOutstanding cheques, $$2,359$EFT payment of $$324$ for utilities, not previously recorded by the companyCheque #$373$ was correctly written in the amount of $$890$ but was incorrectly recorded by the company$$s bookkeeper as $$980.$ The cheque was written to buy supplies.InstructionsPrepare the bank reconciliation at July $31.$Prepare any journal entries required from the reconciliation.