Exercise 7-8 (Part Level Submission) eThe following information pertains to Sunland Company. 1. Cash balance per bank, July 31, $8,238 2. July bank service charge not recorded by the depositor $58 3. Cash balance per books, July 31, $8,274 4. Deposits in transit, July 31, $3,610. 5. $2,926 collected for Sunland Company in July by the bank through electronic funds transfer. The collection has not been recorded by Sunland Company 6. Outstanding checks, July 31, $706. 12 -14 Prepare a bank reconciliation at July 31, 2017, (List items that increase balance as per bank & books first.) SUNLAND COMPANY Bank Reconcilation ore uly 31, 2017 Cash balance per bank statement + 8238 AddDeposits in transit 3610 1184 Less Outstanding checks 11142 Adjusted cash balance per bank Cash balance per books 8274 Add Electronic funds transfer received a 2926 11200 58 Less : Bank service charge 11142 Adjusted cash balance per books : Journalize the adjusting entries at July 31 on the books of Suniand Company.(Credit account titles are automatically indented when amount is entered. Do not indent manually,) Date Account Titles and Explation uly 31 Debit Credit (To record electronic funds transfer received by bank) uly 31 (To record bank service charge) Click if you weuld ike to Show Work for this questions QOeen hoWat