The following information pertains to Crane Company 1 Cash balance per books, August 31, $7,424 2 Cash balance per bank, August 31, $7,388 3 Outstanding checks, August 31, $689 4 August bank service charge not recorded by the depositor $41. 5. Deposits in transit, August 31, $2.760 In addition, $2,076 collected for Crane Company in August by the bank through electronic funds transfer. The accounts receivable collection has not been recorded Crane Company Your answer is partially correct Prepare a bank reconciliation at August 31, 2022 (List items that increase balance as per bank & books first.) CRANE COMPANY Bank Reconciliation August 31,2022 Cash balance por bank statement Deposits in tran 2760 CRANE COMPANY Bank Reconciliation August 31, 2022 Cash balance per bank statement Add v Deposits in transit Less Outstanding checks Adjusted cash balance per bark $ 7388 2760 10148 689 9459 Cash balance per books 7424 Add Collection on electronic funds transfer 2076 9500 414 Less ~ Bank service charge Adjusted cash balance per books 9459 Your answer is partially correct. Journalize the adjusting entries at August 31 on the books of Crane Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation July 31 Accounts Receivable (To record electronic funds transfer received by bank) July 31 Bank Charges Expense (To record bank service charge) Debit 2076 41 Credit 2076 41