[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, 2021, to July 31, 2021 Cash Balance Cash Balance July 1, Cash 2021 + Receipts $7.470 $8,690 Cash Receipts Date Desc. 7/9 Sales 7/21 Sales 7/31 Sales July 31, 2021 $5, 740 Amount $2,650 3,230 2,810 Date 7/7 7/12 7/19 7/22 7/30 Cash Disbursements $10,420 Cash Disbursements Check# Desc. 531 Rent 532 Salaries 533 Equipment 534 Utilities 535 Advertising Amount $ 1,590 2,050 4,400 990 1, 390 $10,420 $8,690 Moeber FDIC 2252790471 July 31, 2021 P.O. Box 123878 FIDELITY UNION Gotebo, OK 73041 You Can Bank On Us (580) 37 0 || 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 $8,150 2 $5,939 7 $ 10, 159 Deposits and Credits Withdrawals and Debits Date Amount Desc Date Amount Desc 7/10 $2,650 DEP 7/2 530 7/22 3,230 $ 680 CHK DEP 7/10 532 7/31 2,590 CHK 59 INT 7/14 532 2. 050 CHK 7/18 490 NSF 7/22 533 4,700 CHK 590 EFT 59 SF 55,939 $10,150 NO. Ending Balance July 31, 2021 $ 1,930 Daily Balance Date Amount 772 57, 470 7/10 8,530 7/14 6,480 7/18 5,990 7/22 4.520 3,930 7/30 3,871 7/31 $3,930 7/26 7/30 7/26 Desc DEP Customer deposit NOTE Note collected EFT Electronie 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. (Amosints to be deducted should be indicated with a minus sign. Total entries to the same account together when entering in the bank veconciliation.) GLOVER INCORPORATED Bank Reconciliation July 31, 2021 Bank's Cash Balance Company's Cash Balance Por bank statement Per general ledger 1 2 > Record the entries that increase cash. Note: Enter debits before credits. General Journal Transaction 1 Debit Credit Record entry Clear entry View general Journal 1 33 Record the entries that decrease cash. Note: Enter debits before credits. General Journal Debit Credit Transaction 2 Record entry Clear entry View general journal