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 2021 Receipts Disbursements July 31, 2021 $7,190 $8,480 $9,440 $6,230 Cash Receipts Cash Disbursements Date Desc. Amount Date Check Desc. Amount 7/9 Sales $ 2,580 7/7 531 Rent $1,520 7/21 Sales 3,160 7/12 532 Salaries 1,980 7/31 Sales 2,740 7/19 533 Equipment 3,700 7/22 534 Utilities 7/30 535 Advertising 1,320 $8,480 $ 9,440 920 Member FDIC 2252798471 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 NO. Total NO. Total $7,800 3 $5,792 7 $ 9,302 Deposits and Credits Withdrawals and Debits Date Amount Desc Date No. Amount Desc. 7/10 $2,580 DEP 7/2 530 $ 610 CHK 7/22 3,160 DEP 7/10 531 1,520 CHK 7/31 52 INT 7/14 532 1,980 CHK 7/18 420 NSF 7/22 533 4,200 CHK 7/26 520 EFT 7/30 52 SF July 31, 2021 Ending Balance July 31, 2021 $ 4,290 Daily Balance Date Anount 7/2 $7,190 7/10 8,250 7/14 6,270 7/18 5,850 7/22 4,810 7/26 4,290 7/30 4,238 7/31 $ 4,290 $5,792 $9, 302 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 $ 4.290 per general ledger Deposits outstanding 2.740 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" in the first account field.) View transaction list Journal entry worksheet 2 > Record the entries that decrease cash. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Record entry Clear entry View general Journal