Required information [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 $6,090 + Cash Balance July 1, Cash 2021 Receipts $7,270 $8,540 Cash Receipts Date Desc. 7/9 Sales 7/21 Sales 7/31 Sales Amount $2,600 3,180 2,760 Date 7/7 7/12 7/19 7/22 7/30 Cash Disbursements $9,720 Cash Disbursements Check# Desa. 531 Rent 532 Salaries 533 Equipment 534 Utilities 535 Advertising Amount $1,540 2,000 3,900 940 1,340 $9, 720 $8,540 Member FDIC 2252790471 July 31, 2021 P.O. Box 123878 FIDELITY UNION Gotebo, OK 73041 You Can Bank On Us (580) 377 OKIE Account Holder Glover Incorporated Account Number: 519 Main Street Cotebo, OK 73041 Statement Date: Withdrawals and Beginning Balance Deposits and Credits Debito NO. July 1, 2021 NO. Total Total 3 $7.900 7 $9,504 Deposits and Credito Withdrawals and Debito Date Amount Done. Date No. Amount Dene. RP 7/2 530 630 CHK RU Ending Balance July 31, 2021 S4,230 Daily Balance Date Amount 7/2 $7,270 7/10 8.330 Member FDIC 2252790471 July 31, 2021 P.O. Box 123878 FIDELITY UNION Gotebo, OK 73041 You Can Bank On Us (580) 377 =OKIE Account Holder: Glover Incorporated Account Number 519 Main Street Gotebo, OK 73041 Statement Date: Withdrawals and Beginning Balance Deposits and Credits Debits July 1, 2021 NO. Total NO. Total $7,900 3 $5,834 7 $ 9,504 Deposits and Credits Withdrawals and Debits Date Amount Desc. Date No. Amount Desc. 7/10 $2,600 DEP 7/2 530 $ 630 CHK 7/22 3,180 DEP 7/10 531 1,540 CHK 7/31 54 INT 7/14 532 2,000 CRK 7/18 440 NSF 7/22 533 4,300 CHK 7/26 540 EFT 7/30 54 SE Ending Balance July 31, 2021 $ 4,230 Daily Balance Date Amount 7/2 $ 7,270 7/10 8,330 7/14 6,330 7/18 5,890 7/22 4,770 7/26 4,230 7/30 4,176 7/31 $4,230 $5,834 $9,504 Desc. DEP Customer deposit NOTE Note collected EFT Electronie funds transfer INT Interest earned CHK Customer check SF Service fees NSP 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, Journal entry worksheet 2 > Record the entries that decrease cash. Note: Enter debits before credits Debit Credit Transaction 2 General Journal Equipment Accounts Receivable Supplies Service Fee Expense Record entry Clear entry View general journal
