Exercise 7-8 (Part Level Submission) The following information pertains to Pharoah Company. 1. Cash balance per bank, July 31, $7,588 2. July bank service charge not recorded by the depositor $45. 3. Cash balance per books, July 31, $7,624 4. Deposits in transit, July 31, $2,960. 5. $2,276 collected for Pharoah Company in July by the bank through electronic funds transfer. The collection has not been recorded by Pharoah Company. Outstanding checks, July 31, $693 6