Question 3 1/2 View Policies Show Attempt History Current Attempt in Progress On July 31, 2022, Crane Company had a cash balance per books of $6,245.00. The statement from Dakota State Bank on that date showed a balance of $7,795.80. A comparison of the bank statement with the Cash account revealed the following facts. 1. The bank service charge for July was $16.00. 2. The bank collected $1,625.00 from a customer for Crane Company through electronic funds transfer. 3. The July 31 receipts of $1,307.30 were not ihcluded 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 $284.00 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $245.00. 5. Checks outstanding on July 31 totaled $1.965.10. 6. On July 31. the bank statement showed an NSF charge of $680.00 for a check received by the company from W. Krueger, a customer, on account. Your Answer Correct Answer Your answer correct CRANE COMPANY Bank Reconciliation July 31, 2022 Cash balance per bank statement 7,795.80 Add : Deposits in transit 1,307.30 9,103.10 Less : Outstanding checks 1,965.10 i Adjusted cash balance per bank 7.138.00 Cash balance per books $ 6.245.00 Add : Electronic funds transfer received 1625.00 1625.00 7.870.00 Less Bank service charge 16.00 Error in recording check No. 2480 39.00 i NSF check 680.00 Adjusted cash balance per bank 7,138.00 Cash balance per books 6,245.00 Add : Electronic funds transfer received 1,625.00 7,870.00 Bank service charge 16.00 i Error in recording check No. 2480 39.00 i NSF check 680.00 i 735.00 Adjusted cash balance per books $ 7,135.00 eTextbook and Media Solution List of Accounts Attempts: 3 of 3 Prepare the necessary adjusting entries at July 31. (Credit account titles are automatically Indented when amount is entered. Do not indent manually Date Account Titles and Explanation Debit Credit July 31. (To record electronic funds transfer received by bank) (To record NSF check) (To correct error in recording check) (To record bank service charge) e Textbook and Media List of Accounts