Prepare the bank reconciliation as of July 31

Prepare the necessary adjusting entries at July 31.

*Problem 7-03A On July 31, 2022, Ivanhoeco On July 31, 2022, Ivanhoe Company had a cash balance per books of $6,310.00. The statement from Dakota State Bank on that date showed a balance of $7,860.80. A comparison of the bank statement with the Cash account revealed the following facts. 1. The bank service charge for July was $18.00. 2. The bank collected $1,690.00 from a customer for Ivanhoe Company through electronic funds transfer. 3. The July 31 receipts of $1,370.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31. 4. Company check No. 2480 issued to L. Taylor, a creditor, for $354.00 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $345.00. Checks outstanding on July 31 totaled $2,003.10. 6. On July 31, the bank statement showed an NSF charge of $745.00 for a check received by the company from W. Krueger, a customer, on account. by the company in a night deposit vault on July 31, cause