E 7-8 Prepare bank reconciliation and adrsting entries The following information pertains to Lance Company. Cash balance per bank. July 31, $7,328. July bank service charge not recorded by the depositor $38. Cash balance per books, July 31. $7,364. Deposits in transit. July 31. $2.700. $2.016 collected for Lance Company in July by the bank through electronic funds trans The collection has not been recorded by Lance Company. 6. Outstanding checks. July 31. $686. WPPN?' instructions (a) Prepare a bank reconciliation at July 31. 2017. (b) Journalize the adjusting entries at July 31 on the books of Lance Company. NOTE: Enter a number in cells requesting a value; enter either a number or a formula