Exercise 7-8 (Part Level Submission) The following information pertains to Sheridan Company. 1. Cash balance per bank, July 31, $8,188. 2. July bank service charge not recorded by the depositor $57 3. Cash balance per books, July 31, $8,224. 4. Deposits in transit, July 31, $3,560 5. $2,876 collected for Sheridan Company in July by the bank through electronic funds transfer. The collection has not been recorded by Sheridan Company. 6. Outstanding checks, July 31, $705