Exercise 7-11 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