The cash records and bank statement for the month of July for Eagle Incorporated are shown below.

EAGLE INCORPORATED

Cash Account Records

July $1,2024,$ to July $31,2024$

Cash Balance July $1,2024+$ Cash Receipts $$ Cash Disbursements $=$ Cash Balance July $31,2024$

$$7,150$ $$8,450$ $$9,300$ $$6,300$

Cash Receipts Cash Disbursements

Date Description Amount Date Description Memo Amount

$7/9$ Sales $$2,5707/7$ EFT Rent $$1,510$

$7/21$ Sales $3,1507/12$ EFT Salaries $1,970$

$7/31$ Sales $2,7307/19$ DC Equipment $3,600$

$7/22$ CHK number $531$ Utilities $910$

$7/30$ CHK number $532$ Advertising $1,310$

$$8,450$ $$9,300$

P$.$O$.$ Box $123878$ FIDELITY UNION Member FDIC

Gotebo, OK $73041$ You Can Bank On Us

$(580)377-$OKIE

Account Holder: Eagle Incorporated

$519$ Main Street

Gotebo, OK $73041$ Account Number: $2252790471$

Statement Date: July $31,2024$

Beginning Balance July $1,2024$ Deposits and Credits Withdrawals and Debits Ending Balance July $31,2024$

Number Total Number Total

$$7,7503$ $$5,7717$ $ $9,051$ $ $4,470$

Deposits and Credits Withdrawals and Debits Daily Balance

Date Amount Description Date Number Amount Description Date Amount

$7/10$ $$2,570$ DEP $7/2530$ $$600$ CHK $7/2$ $$7,150$

$7/223,150$ DEP $7/101,510$ EFT $7/108,210$

$7/3151$ INT $7/141,970$ EFT $7/146,240$

$7/18410$ NSF $7/185,830$

$7/224,000$ DC $7/224,980$

$7/26510$ EFT $7/264,470$

$7/3051$ SF $7/304,419$

$7/31$ $$4,470$

$$5,771$ $$9,051$

Description DEP Customer deposit INT Interest earned SF Service fees

NOTE Note collected CHK Customer check NSF Nonsufficient funds

EFT Electronic funds transfer DC Debit card

Additional information:

The difference in the beginning balances in the company$$s records and the bank statement relates to check number $530,$ which is outstanding as of June $30,2024.$

The debit card transaction for the purchase of equipment on $7/19$ is correctly processed by the bank.

The EFT on July $26$ in the bank statement relates to the purchase of office supplies.

Required:

$1.$ Prepare a bank reconciliation for Eagle$$s checking account on July $31,2024.$

$2.$ Record the necessary cash adjustments.

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