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 $7,070 $8,390 Cash Receipts Date Desc. 779 Sales 7/21 Sales 7/31 Sales July 31, 2021 $6,440 Amount $ 2,550 3,130 2,710 Date 7/7 7/12 7/19 7/22 7/30 Cash Disbursements $9,020 Cash Disbursements Checko Desc. 531 Rent 532 Salaries 533 Equipment 534 Utilities 535 Advertising Amount $1,490 1,950 3,400 890 1,290 $ 9,020 58,390 Member FDIC 2252790471 P.O. Box 123878 FIDELITY UNION Gotebo, OK 73041 You Can Bank On Us (588) 377- ORIE 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 $7,650 55229 7 $ 3,349 Deposits and Credits withdrals and Debits Date Acount Desc. Date No. Aount Desc 7/10 $2,550 DEP 7/2 530 $ 580 CH 7/22 3,130 DEP 7/10 531 CHIK 7/31 49 INT 7/14 532 1,950 CH 7/18 390 NSF 7/22 533 3,000 7/26 EFT SF July 31, 2021 Ending Balance July 31, 2021 $4,530 Daily Balance Date Amount 772 $7,070 7/10 8.130 7/14 6,180 7/10 5,290 7/22 5,020 7/26 4,530 4,481 $4,530 $5,729 $8.50 Desc DEP Customer deposit NOTE Note collected EFT Electronic funds transfer INT Interest and 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 7/26 7/30 490 49 EFT SF 7/26 7/30 7/31 $5,729 4,530 4,481 $4,530 $8,849 Dese. DEP Customer deposit NOTE Tote 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 por reconciliation