E7-8 Prepare bank reconciliation and adjusting entries. The following information pertains to Lance Company 1.Cash balance per bank, July 31, $7,328. . 2.July bank service charge not recorded by the depositor $38. .3.Cash balance per books, July 31, $7,364 .4.Deposits in transit, July 31, S2,700. . 5.$2,016 collected for Lance Company in July by the bank through electronic funds transfer. The collection has not been recorded by Lance Company .6.Outstanding checks, July 31, $686. Instructions (a) Prepare a bank reconciliation at July 31, 2017. (b) Journalize the adjusting entries at July 31 on the books of Lance Company E7-9 Prepare bank reconciliation and adjusting entries This information relates to the Cash account in the ledger of Howard Company Balance September 1-$16,400; Cash deposited-$64,000 Balance September 30-$17,600; Checks written-$62,800 The September bank statement shows a balance of $16,500 at September 30 and the following memoranda. Debits Credits Collection of electronic funds transfer $1,830 NSF check: H. Kane $560 Interest earned on checking account 45 Safety deposit box rent 60 At September 30, deposits in transit were $4,738 and outstanding checks totaled $2,383 Instructions (a) Prepare the bank reconciliation at September 30, 2017. (b) Prepare the adjusting entries at September 30, assuming the NSF check was from a customer on account