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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

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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 $5,740 Cash Balance July 1, Cash 2021 + Receipts $7,470 58,690 Cash Receipts Date Desc 7/9 Sales 7/21 Sales 7/31 Sales Amount $ 2,650 3,230 2,810 Date 7/7 7/12 7/19 7/22 7/30 Cash Disbursements $10,420 Cash Disbursements Check# Desc. 531 Rent 532 Salaries 533 Equipment 534 Utilities 535 Advertising Amount $ 1,590 2,050 4,400 99e 1,390 $10,420 $8,69 Member FDIC 2252790471 NO. 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 73041 Statement Date: Beginning Balance Deposits and Credits withdrawals and Debits July 1, 2021 Total NO. Total $8,15e 3 $5,939 7 $ 10,159 Deposits and Credits Withdrawals and Debits Date Amount Desc. Date No. Amount Desc. 7/10 $2,650 DEP 7/2 530 $ 680 CHK 7/22 3,230 DEP 7/10 531 1,590 CHK 7/31 59 INT 7/14 532 2,85e CHK 7/18 490 NSF 7/22 533 4,700 CHK 7/26 590 EFT 7/30 59 SF Date July 31, 2021 Ending Balance July 31, 2021 $ 3,93e Daily Balance Amount 7/2 $ 7,47 7/10 8,530 7/14 6,480 7/18 5,990 7/22 4,520 7/26 3,930 7/30 3,871 7/31 $3,930 $5,939 $12, 159 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 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 Per general ledger Bank balance per reconciliation Company balance per reconciliation

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