E7.8 (LO 3), AP The following information pertains to Ranchero Company. 1. Cash balance per books, August 31,$7,364. 2. Cash balance per bank, August 31,$7,328. 3. Outstanding checks, August 31,$686. 4. August bank service charge not recorded by the depositor $38. 5. Deposits in transit, August 31,$2,700. In addition, $2,016 was collected for Ranchero Company in August by the bank through electronic funds transfer. The collection has not been recorded by Ranchero Company. Instructions a. Prepare a bank reconciliation at August 31, 2025. b. Journalize the adjusting entries at August 31 on the books of Ranchero Company. E7.9 (LO 3), AP Rachel Sells is unable to reconcile the bank balance at January 31. Rachel's reconciliation is shown here. Instructions a. What is the proper adjusted cash balance per bank? b. What is the proper adjusted cash balance per books? c. Prepare the adjusting journal entries necessary to determine the adjusted cash balance per books