Problem 4-3B Prepare the bank reconciliation and record cash adjustments (L04-5) (The following information applies to the questions displayed below.) The cash records and bank statement for the month of July for Glover Incorporated are shown below. GLOVER INCORPORATED Cash Account Records July 1, 2021, to July 31, 2021 Cash Balance - July 31, 2021 $5,880 Cash Balance July 1, Cash 2021 + Receipts $7,390 $8,630 Cash Receipts Date Desc. 7/9 Sales 7/21 Sales 7/31 Sales Amount $2,630 3,210 2,790 Date 7/7 7/12 7/19 7/22 7/30 Cash Disbursements $10,140 Cash Disbursements Check# Desc. 531 Rent 532 Salaries 533 Equipment 534 Utilities 535 Advertising Amount $ 1,570 2,030 4,200 970 1,370 $10,140 $8,630 Member FDIC FIDELITY UNION You Can Bank On Us P.O. Box 123878 Gotebo, OK 73041 (580) 377-OKIE Account Holder: 2252701471 Rent Number TOY Ch Member FDIC 2252790471 July 31, 2021 P.O. Box 123878 FIDELITY UNION Gotebo, OK 73041 You Can Bank On Us (580) 377-OKIE Account Holder: Glover Incorporated Account Number : 519 Main Street Gotebo, OK 73041 Statement Date: Withdrawals and Beginning Balance Deposits and Credits Debits July 1, 2021 NO. Total NO. Total $8,050 3 $5,897 7 $ 9,957 Deposits and Credits Withdrawals and Debits Date Amount Desc. Date No. Amount Desc. 7/10 $ 2,630 DEP 7/2 530 $ 660 CHK 7/22 3,210 DEP 7/10 531 1,570 CHK 7/31 57 INT 7/14 532 2,030 CHK 7/18 470 NSF 7/22 533 4,600 CHK 7/26 570 EFT 7/30 57 SF Ending Balance July 31, 2021 $ 3,990 Daily Balance Date Amount 7/2 $7,390 7/10 8,450 7/14 6,420 7/18 5,950 7/22 4,560 7/26 3,990 7/30 3,933 7/31 $3,990 $5,897 $9,957 Desc. DEP Customer deposit NOTE Note collected EFT Electronic funds transfer INT Interest earned CHK Customer check SF Service fees NSF Nonsufficient funds Saved Required information Required: 1. Prepare a bank reconciliation for Glover's checking account on July 31, 2021. (Amounts to be deducted minus sign. Total entries to the same account together when entering in the bank reconciliation.) GLOVER INCORPORATED Bank Reconciliation July 31, 2021 Bank's Cash Balance Company's Cash Balance Per bank statement Per general ledger ces Bank balance per reconciliation Company balance per reconciliation Problems i Required information 1 Record the entries that increase cash. 2 Record the entries that decrease cash. Credit Note : = journal entry has been entered 2 of 6 Prev2 Next >