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 Cash July 31, 2021 Receipts Disbursements 2821 $7,030 $8,360 $8,880 $6,510 Cash Receipts Cash Disbursements Date Desc Amount Date Checke Desc. Amount 7/9 Sales $2,540 7/7 531 Rent $1,480 7/21 Sales 3,120 7/12 532 Salaries 1,940 7/31 Sales 2,700 7/19 533 Equipment 3,300 7/22 534 Utilities 880 7/30 535 Advertising 1,280 $8,360 $8,880 + 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 $7,600 3 $5,708 7 $ 8,498 Deposits and credits Withdrawals and Debits Date Amount Desc. Date No. Amount 7/10 $2,540 DEP 7/2 530 $ 570 CHK 7/22 3,120 DEP 7/10 531 1,480 CHK 7/31 48 INT 7/14 532 1,940 CHIK 7/18 380 NSF Ending Balance July 31, 2021 $14,810 Daily Balance Da Amount 7/2 $7,030 7/10 8,090 7/14 6,150 7/18 5.770 Member FDIC P.0. Box 123878 FIDELITY UNION Gotebo, OK 73041 You Can Bank On Us (580) 377-KIE 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 $7,600 3 $5,708 7 $ 8,498 Deposits and Credits Withdrawals and Debits Date Amount Desc. Date No. Amount Desc. 7/10 $2,540 DEP 7/2 530 $ 570 CHK 7/22 3,120 DEP 7/10 531 1,480 CHK 7/31 48 INT 7/14 532 1,940 CHK 7/18 380 NSF 7/22 533 3,600 CHK 7/26 480 EFT 7/30 48 SF 2252798471 July 31, 2021 Ending Balance July 31, 2021 $ 4,810 Daily Balance Date Amount 7/2 $7,030 7/10 8,990 7/14 6,150 7/18 5,770 7/22 5,290 7/26 4,819 7/30 4,762 $4,820 7/31 $5,708 $8,498 Desc. DEP Customer deposit NOTE Note collected EFT Electronic funds transfer INT Interest earned CHK Customer check SF Service fees NSF 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. Required: 1. Prepare a bank reconciliation for Glover's checking account on July 31, 2021. (Amounts to be deducted should be indicated with a 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 Bank's Cash Balance Company's Cash Balance Per bank statement $ 4,810 Per general ledger Deposits outstanding 2,560 Company error Checks outstanding Interest earned NSF check Service fees Office supplies Bank balance per reconciliation Company balance per reconciliation 2. Record the necessary cash adjustments. (If no entry is required for a transaction/event, select "No Journal Entry Required" first account field.) Answer is not complete. General Journal No Transaction Debit Credit 1 1 Cash Interest Revenue 60 X 60 2 2 Equipment Accounts Receivable Service Fee Expense Supplies Cash OOO