Required information Problem 4-3B Prepare the bank reconciliation and record cash adjustments (LO4-5) [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. Cash Balance July 1, GLOVER INCORPORATED Cash Account Records July 1, 2021, to July 31, 2021 Cashi Disbursements Cash Balance 2021 + $7,150 Cashi Receipts $8,450 Cash Receipts $9,300 Date Desc. Amount Date Check# Desc. 7/9 Sales $2,570 7/7 531 Rent 7/21 Sales 3,150 7/12 532 Salaries 7/31 Sales 2,730 7/19 533 Equipment 7/22 534 7/30 535 Utilities Advertising Cash Disbursements July 31, 2021 $6,300 Amount $1,510 1,970 3,600 910 1,310 $8,450 $9,300 P.O. Box 123878 Gotebo, OK 73041 (580) 377-OKIE Account Holder: FIDELITY UNION Member FDIC You Can Bank On Us Glover Incorporated Account Number: 519 Main Street Beginning Balance July 1, 2021 $7,750 Deposits and Credits Gotebo, OK 73041 Deposits and Credits Statement Date: Withdrawals and Debits NO. 3 Total $5,771 NO. 7 Total $ 9,051 Withdrawals and Debits Date 7/10 7/22 7/31 Amount Desc. Date No. Amount Desc. Date $2,570 DEP 7/2 530 $ 600 CHK 7/2 2252790471 July 31, 2021 Ending Balance July 31, 2021 $ 4,470 Daily Balance Amount $7,150 3,150 DEP 7/10 531 1,510 CHK 7/10 8,210 51 INT 7/14 532 1,970 CHK 7/14 6,240 7/18 410 NSF 7/18 5,830 7/22 533 4,000 CHK 7/22 4,980 7/26 510 EFT 7/26 4,470 7/30 51 SF 7/30 4,419 7/31 $4,470 $5,771 $9,051 Desc. DEP Customer deposit INT Interest earned SF Service fees NOTE Note collected CHK Customer check NSF Nonsufficient funds EFT Electronic funds transfer 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.