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 $7,070 Cash Balance July 1, Cash 2021 + Receipts $6,710 $8,120 Cash Receipts Date Desc. 7/9 Sales 7/21 Sales 7/31 Sales Amount $2,460 3,040 2,620 Date 7/7 7/12 7/19 7/22 7/30 Cash Disbursements $7,760 Cash Disbursements Check# Desc. 531 Rent 532 Salaries 533 Equipment 534 Utilities 535 Advertising Amount $1,400 1,860 2,500 800 1,200 $7,760 $ 8,120 Wener TDC 2252798471 20. B 12387 FIDELITY UNION Gotebo, OK 73011 You Can Bank On Us (0) P1 OR IL Account Holder: Glover Incorporated Account Number: 519 Main Street Gotebo, OK 73841 Statement Date: Beginning Balance Deposits and Credits Withdrawals and Debits July 1, 2021 NO. Total NO. Total $2,200 3 2 $ 7,490 Deposits and Credits Withdrawals and Debits Date Amount Desc. Date No. Amount Desc. 7/10 $2,460 DEP 7/2 530 $ 490 CHK 7/22 3,040 DEP 7/10 531 1,400 CHK 7/31 40 INT 7/14 532 1,860 CHK 7/18 300 NSE 7/22 533 3,000 CHK 7/26 400 EFT 7/30 40 SF July 31, 2021 Ending balance July 31, 2021 5 5.258 Daily Balance Date Amount 7/2 $6,710 7/10 7,770 7/14 5,910 7/18 5,610 5,650 7/26 5,250 7/30 5,210 7731 $5,250 7/22 $5,540 $7,490 V22 2/31 040 40 DEP INT 331 532 1/10 7/14 7/18 7/22 7/26 7/30 533 1 1,860 300 3,000 480 40 CHK NSF CHK EFT SF 7/14 7/18 7/22 7/26 7/30 7/31 5,918 5,618 5,650 5,250 5,219 $5,250 $5,540 $7,499 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: 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 INCORERTE Bank Reconciliation aly 31, 2011 Bank's Cash Balance Company's Cash Balance Per bank statement Per general ledger Bank balance per reconciliation Company balance per reconciliation