The following information is available to reconcile Branch Companys book balance of cash with its bank statement cash balance as of July 31. On July 31, the companys Cash account has a $25,575 debit balance, but its July bank statement shows a $27,386 cash balance. Check Number 3031 for $1,290, Check Number 3065 for $421, and Check Number 3069 for $2,058 are outstanding checks as of July 31. Check Number 3056 for July rent expense was correctly written and drawn for $1,250 but was erroneously entered in the accounting records as $1,240. The July bank statement shows the bank collected $7,000 cash on a note for Branch. Branch had not recorded this event before receiving the statement. The bank