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 Cash Balance July 1, Cash 2021 + Receipts $7,350 $8,600 Cash Receipts Date Desc. 7/9 Sales 7/21 Sales 7/31 Sales July 31, 2021 $5,950 Amount $ 2,620 3,200 Date 7/7 7/12 7/19 7/22 7/30 Cash Disbursements $10,000 Cash Disbursements Checka Desc. 531 Rent 532 Salaries 533 Equipment 534 Utilities 535 Advertising 2,780 Amount $ 1,560 2,020 4,100 960 1.360 $10,000 $ 8,600 Member FDIC 2252796471 P.O. Box 123878 FIDELITY UNION Gotebo, OK 73041 You can Bank On Us (588) 377-OKIE Account Holder: Glover Incorporated Account Number: 519 Main Street Gotebo, OK 73841 Statement Date: Beginning Balance Deposits and Credits withdrawals and Debits July 1, 2021 NO. Total NO. Total $8,000 3 $5,876 7 $ 9,706 Deposits and Credits Withdrawals and Debits Date Amount Desc. Date No. Amount Desc 7/10 $2,620 DEP 7/2 530 $ 650 CHK 7/22 3,200 DEP 7/10 531 1,560 CHK 7/31 56 INT 7/14 532 2,820 CHK 7/18 460 NSF 7/22 533 4.400 CHK 7/26 560 EFT 7/30 56 SF July 31, 2021 Ending Balance July 31, 2021 $ 4,170 Daily Balance Date Amount 7/2 $7,350 7/10 8,410 6,390 7/18 5,930 7/22 4,730 7/26 4.170 4,114 7/31 54,170 7/30 $5,876 $9,706 Desc DEP Customer deposit NOTE Note collected EFT Electronic funds transfer INT Interest earned CHK Customer check SF Service fees NSF Nonsufficient funds Required: 1. Prepare a bank reconciliation for Glover's checking account on July 31, 2021 (Amounts to be deducted should be indicated with a minus sign. Total entries to the same account together when entering in the bank reconciliation.) GLOVER INCORPORATED Bank Reconciliation July 31, 2021 Company's Cash Balance Per general ledger Bank's Cash Balance Per bank statement Bank balance per reconciliation Company balance per reconciliation 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. 2. Record the necessary cash adjustments. (If no entry is required for a transaction/event, select "No Journal Entry Rec the first account field.) View transaction list Journal entry worksheet Record the entries that decrease cash. Note: Enter debita before credits. General Journal Debit Credit Transaction 2 Record entry Clear entry View general Journal