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 $6,440 Cash Balance July 1, Cash 2021 + Receipts $7,070 $8,390 Cash Receipts Date Desc. 7/9 Sales 7/21 Sales 7/31 Sales Amount $2,550 3,130 2,710 Cash Disbursements $9,020 Cash Disbursements Check# Desc. Rent 532 Salaries 533 Equipment Utilities 535 Advertising Date 7/7 7/12 7/19 7/22 7/30 531 Amount $1,490 1,950 3,400 890 1,290 $9,020 534 $8,390 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 $7,650 3 $5,729 7 $ 8,849 Deposits and Credits Withdrawals and Debits Date Amount Desc. Date Amount Desc. 7/10 $2,550 DEP 7/2 530 $ 580 CHK 7/22 3,130 DEP 7/10 531 1,490 7/31 49 INT 7/14 532 1,950 CHK 7/18 390 7/22 533 3,900 7/26 7/30 49 CHK Ending Balance July 31, 2021 $ 4,530 Daily Balance Date Amount 7/2 $7,070 7/10 8,130 7/14 6,180 7/18 5,790 7/22 5,020 7/26 4,530 7/30 4,481 7/31 $4,530 CHK 490 $5,729 $8,849 Desc. Rere note meon deposit DEP Customer deposit NOTE Note collected EFT Electronic funds transfer INT Interest earned CHK Customer check SF Service fees NSF Nonsufficient funds 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 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 Record the entries that increase cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal 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 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 Record the entries that decrease cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal