E7.11 (LO 3) The following information pertains to Lance Company. 1. Cash balance per bank, July 31, $7,263. 2. July bank service charge not recorded by the depositor $28. 3. Cash balance per books, July 31, $7,284. 4. Deposits in transit, July 31, $1,300. 5. The bank collected $716 in July for Lance through electronic funds transfer. The collection has not been recorded by Lance 6. Outstanding checks, July 31, $591. Instructions a. Prepare a bank reconciliation at July 31. b. Journalize the adjusting entries at July 31 on the books of Lance Company