Exercise 7-8 (Part Level Submission) The following information pertains to Crane Company. el 1. Cash balance per bank, July 31, $7,938. 2 July bank service charge not recorded by the depositor S52 3. Cash balance per books, July 31, $7,974. 4. Deposits in transit, July 31, $3,310. 5. $2,626 collected for Crane Company in July by the bank through electronic funds transfer. The collection has not been recorded by Crane Company 6. Outstanding checks, July 31, $700. rt