Problem 4-3B (Algo) Prepare the bank reconciliation and record cash adjustments (LO4-5) The cash records and bank statement for the month of July for Hawk Incorporated are shown below. Cash Receipts $8,270 Cash Balance July 1, 2024 $6,910 Date Cash Receipts Description Sales HAWK INCORPORATED Cash Account Records July 1, 2024, to July 31, 2024 Cash Disbursements $8,460 Cash Disbursements Cash Balance July 31, 2024 $6,720 Amount $1,450 1,910 Amount Date Description 7/9 $2,510 7/7 EFT Memo Rent 7/21 Sales 3,090 7/12 EFT Salaries 7/31 Sales 2,670 7/19 DC Equipment 7/22 CHK number 531 Utilities 3,000 850 7/30 CHK number 532 Advertising 1,250 $8,270 $8,460 P.O. Box 123878 Gotebo, OK 73041 (580) 377-OKIE Account Holder: Beginning Balance July 1, 2024 Hawk Incorporated 519 Main Street. Gotebo, OK 73041 FIDELITY UNION You Can Bank On Us Account Number: Statement Date: Deposits and Credits Withdrawals and Debits $7,450 Number 3 Total $5,645 Deposits and Credits Date Amount Description Date Number 7 Withdrawals and Debits Number Amount Total $ 8,045 Member FDIC 2252798471 July 31, 2824 Ending Balance July 31, 2024 $ 5,050 Daily Balance Description Date Amount 7/10 $2,510 DEP 7/2 530 $540 CHK 7/2 $6,910 7/22 3,098 DEP 7/10 1,450 EFT 7/10 7,970 7/31 45 INT 7/14 1,910 EFT 7/14 6,050 7/18 350 NSF 7/18 5,710 7/22 3,300 DC 7/22 5,500 7/26 450 EFT 7/26 5,050 7/30 45 SF 7/30 5,005 7/31 $5,050 $5,645 $8,045 $5,645 7/30 45 SF 7/30 5,005 7/31 $5,050 $8,045 Description DEP Customer deposit INT Interest earned SF Service fees NOTE Note collected CHK Customer check NSF Nonsufficient funds EFT Electronic funds transfer DC Debit card Additional information: a. The difference in the beginning balances in the company's records and the bank statement relates to check number 530, which is outstanding as of June 30, 2024. b. The debit card transaction for the purchase of equipment on 7/19 is correctly processed by the bank. c. The EFT on July 26 in the bank statement relates to the purchase of office supplies. Required: 1. Prepare a bank reconciliation for Hawk's checking account on July 31, 2024. 2. Record the necessary cash adjustments. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Record the necessary cash adjustments. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 Pray 17 of 19 Mout Journal entry worksheet < 1 2 Record the entries that increase cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal