On July 31, Wright Company's Cash account had a balance of $34, 900. On that date, the bank statement had a balance of $27, 960. Analysis of the bank statement and comparison of the statement with the records indicated the following: In reviewing the records, Wright Company also discovered the following error: A check for $940 in legal expenses was incorrectly recorded on the books as $490. Required: Prepare the journal entries necessary to update the Cash account so that its balance is equal to the adjusted balance per bank reconciliation. Make sure to enter the day for each separate transaction. Note: It will be helpful if you prepare bank reconciliation before you prepare the journal entries