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 $6,580 Cash Balance July 1, Cash 2021 Receipts $6,990 $8,330 Cash Receipts Date Desc. 7/9 Sales 7/21 Sales 7/31 Sales Amount $2,530 3,110 2,690 Date 7/7 7/12 7/19 7/22 7/30 Cash Disbursements $8,740 Cash Disbursements Check# Desc. 531 Rent 532 Salaries 533 Equipment 534 Utilities 535 Advertising Amount $1,470 1,930 3,200 870 1,270 $8,740 $ 8,330 Member FDIC 2252790471 P.O. Box 123878 FIDELITY UNION Gotebo, OK 73041 You Can Bank On Us (588) 377-0KIE 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 $7,550 3 $5,687 7 $ 8,447 Deposits and Credits Withdrawals and Debits Date Amount Desc. Date No. Amount Desc. 7/10 $2,530 DEP 530 $ 560 CHK 7/22 3,110 DEP 7/10 531 1,470 CHK 7/31 47 INT 7/14 532 1,930 CHK 7/18 370 NSF 7/22 533 3,600 CHK 7/26 470 EFT 7/30 47 SF 7/2 7/2 July 31, 2021 Ending Balance July 31, 2021 $ 4,790 Daily Balance Date Amount $6,990 7/10 8,050 7/14 6,120 7/18 5,750 7/22 5,260 7/26 4,790 7/30 4,743 7/31 $ 4,790 $5,687 $8,447 Desc DEP Customer deposit NOTE Note collected FFT Electronic Funde transfer INT Interest earned CHK Customer check SF Service fees NSF Nonsufficient funds 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 $ 4,790 Per general ledger $ Deposits outstanding 2,690 Checks outstanding 6,580 Bank balance per reconciliation $ 7,480 Company balance per reconciliation $ 7,480 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 Record the entries that Increase cash. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Problem 4-3B Part 2 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 Record the entries that decrease cash. Note: Enter debits before credits. Transaction General Journal Debit Credit 2