Problem 7-03A On July 31, 2022, Keeds Company had a cash balance per books of $6,140.00. The statement from Dakota State Bank on that date showed a balance of $7,690.80. A comparison of the bank statement with the Cash account revealed the following facts. 1. The bank service charge for July was $25.00. 2. The bank collected $1,520.00 from a customer for Keeds Company through electronic funds transfer. 3. The July 31 receipts of $1,193.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31. 4. Company check No. 2480 issued to L. Taylor, a creditor, for $384.00 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $348.00. 5. Checks outstanding on July 31 totaled $1,860.10. 6. On July 31, the bank statement showed an NSF charge of $575.00 for a check received by the company from W. Krueger, a customer, on account. Prepare the bank reconciliation as of July 31. (List items that increase balance as per bank & books first.) KEEDS COMPANY Bank Reconciliation July 31, 2022 Cash balance per bank statement V 7690.80 $ Add Deposits in transit 1193.30 8884.10 Less V Outstanding checks 1860.10 7024.00 Adjusted cash balance per bank $ Cash balance per books 6140 $ x Add Adjusted cash balance per books 1520 7660 Less V Bank service charge 25 NSF check 575 36 Error in recording check No. 2480 V 636 7024 Adjusted cash balance per books V $ Prepare the necessary adjusting entries at July 31. (Credit account titles are automatically indented when a Date. Account Titles and Explanation Debit Credit July 31. 25 account payable 25 (To record electronic funds transfer received by bank) 31. Accounts Receivable 575 JU Cash 575 (To record NSF check) 31. Cash 1520 Accounts Receivable 1520 (To correct error in recording check) 31. Accounts Payable 36 Cash 36 (To record bank service charge)