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 $6,790 + Cash Balance July 1, Cash 2021 Receipts $6,870 $8,240 Cash Receipts Date Desc. 7/9 Sales 7/21 Sales 7/31 Sales Amount $2,500 3,080 2,660 Date 7/7 7/12 7/19 7/22 7/30 Cash Disbursements $8,320 Cash Disbursements Check# Desc. 531 Rent 532 Salaries 533 Equipment 534 Utilities 535 Advertising Amount $1,440 1,900 2,900 840 1, 240 $8,320 $8,240 Member FDIC 2252790471 July 31, 2021 P.0. Box 123878 FIDELITY UNION Gotebo, OK 73041 You Can Bank On Us (580) 377-0KIE 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 $7,400 3 $5,624 $ 7,994 Deposits and Credits Withdrawals and Debits Date Amount Desc. Date No. Amount Desc. 7/10 $2,500 DEP 7/2 530 $ 530 CHK 7/22 3,080 DEP 7/10 531 1,440 CHK 7/31 44 INT 7/14 532 1,900 CHK 7/18 340 NSF 7/22 533 3,300 CHK 7/26 440 EFT 7/30 44 SF Ending Balance July 31, 2021 $ 5,030 Daily Balance Date Amount 7/2 $6,870 7/10 7,930 7/14 6,030 7/18 5,690 7/22 5,470 7/26 5,030 7/30 4,986 7/31 $5,030 $5,624 $7,994 Desc. DEP Customer deposit NOTE Note collected EFT Electronic funds transfer INT Interest earned CHK Customer check SF Service fees NSF Nonsufficient funds Additional information: Additional information: a. The difference in the beginning balances in the company's records and the bank statement relates to check #530, which is outstanding as of June 30, 2021. b. Check #533 is correctly processed by the bank. C. The EFT on July 26 relates to the purchase of office supplies. Problem 4-3B Part 1 Required: 1. Prepare a bank reconciliation for Glover's checking account on July 31, 2021. (Amounts to be deducted should be indicated with a 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 Bank balance per reconciliation Company balance per reconciliation Problem 4-3B Part 2 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

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