*Problem 8-04A a-b On July 31, 2020, Sheridan Company had a cash balance per books of $5,998.25. The statement from Dakota State Bank on that date showed a balance of $7,721.05. A comparison of the bank statement with the Cash account revealed the following facts. 1. The bank service charge for July was $25. 2. The bank collected $1,710 for Keeds Company through electronic funds transfer. 3. The July 31 receipts of $1,213.50 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 $383 that cleared the bank in July was incorrectly entered as a cash payment on July 10 for $338. 5. Checks outstanding on July 31 totaled $1,871.30. 6. On July 31, the bank statement showed an NSF charge of $575 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 cash balance first. Round answers to 2 decimal places, e.g., 1,245.25) SHERIDAN COMPANY Bank Reconciliation $ $ $ $ Prepare the necessary adjusting entries at July 31. Date Account Titles and Explanation Debit Credit July 31