+ 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 2021 $6,870 $8,240 $8,320 $6,790 Cash Receipts Cash Disbursements Date Desc. Amount Date Checki Desc. Amount 7/9 Sales $2,500 7/7 Rent $1,440 7/21 Sales 3,080 7/12 532 Salaries 1,900 7/31 Sales 2,660 7/19 533 Equipment 2,900 7/22 534 Utilities 840 7/30 535 Advertising 1, 240 $8,240 $8,320 531 Member FDIC 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 $7,400 3 $5,624 7 $ 7,994 Deposits and Credits Withdrawals and Debits Date Amount Desc. Date Amount Desc. 7/10 $2,500 DEP 7/2 530 $ 530 CHK 7/22 3,080 DEP 7/10 531 1,440 CHK 7/31 44 INT 7/14 532 1,900 CHK 7/18 340 NSF 7/22 533 3,300 CHK 7/26 440 EFT 7/30 44 SF NO. 2252790471 July 31, 2021 Ending Balance July 31, 2021 $ 5,030 Daily Balance Date Amount 7/2 $6,870 7/10 7,930 7/14 6,830 7/18 5, 690 7/22 5, 470 7/26 5,030 7/30 4,986 7/31 $5,030 $5,624 $7,994 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. Problem 4-3B Part 1 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 $ 5,030 Per general ledger Deposits outstanding Company error Checks outstanding Interest earned NSF check Service fees Office supplies Bank balance per reconciliation Company balance per reconciliation