[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, 2018, to July 31, 2018 Cash Balance Cash Balance July 1, 2018 + Deposits Checks = July 31, 2018 $6,750 $8,150 $7,900 $7,000 Deposits Checks Date Desc Amount Date No. Desc. Amount 7/9 7/21 7/31 Sales $2.470 Sales 3.050 Sales 2,630 7/7 531 7/12 532 7/19 533 7/22 534 7/30 535 Rent Salaries Equipment Utilities Advertising $ 1,410 1,870 2.600 810 1,210 $ 8,150 $ 7,900 P.O. Box 123878 Gotebo, OK 73041 (580) 377-OKIE FIDELITY UNION You Can Bank On Us Member FDIC Account Holder: Account Number: 2252790471 Glover Incorporated 519 Main Street Gotebo, OK 73041 Statement Date: July 31, 2018 Beginning Balance Deposits and Credits Withdrawals and Debits Ending Balance July 1, 2018 No. Total No. Total July 31, 2018 $ 7,250 3 $ 5,561 7 $ 7541 $5,270 Deposits and Credits Withdrawals and Debits Daily Balance Date Amount Desc Date No. Amount Desc Date Amount 7/10 7/22 7/31 $ 2.470 3,050 41 DEP DEP INT 530 531 532 7/2 7/10 7/14 7/18 7/22 7/26 7/30 $ 500 1,410 1,870 310 3,000 410 41 CHK CHK CHK NSF CHK EFT SF 7/2 7/10 7/14 7/18 7/22 7/26 7/30 $ 6,750 7,810 5,940 5,630 5,680 5.270 5,229 533 $ 5,561 $ 7.541 7/31 $5,270 Desc. DEP Customer deposit INT Interest earned SF Service fees NOTE Note collected CHK Customer check NSF Nonsufficient funds EFT Electronic funds transfer 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, 2018 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, 2018. (Amounts to be deducted should be indicated with a minus sign.) GLOVER INCORPORATED Bank Reconciliation July 31, 2018 Bank's Cash Balance Company's Cash Balance Per bank statement Per general ledger Bank balance per reconciliation Company balance per reconciliation cs 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