The following information pertains to Crane Company. 1. Cash balance per books, August 31, $ 7,374. 2. 3. Cash balance per bank, August 31, $7,338. Outstanding checks, August 31, $ 700. August bank service charge not recorded by the depositor $ 52. Deposits in transit, August 31, $3,310. 4. 5. In addition, $ 2,626 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 per bank statement $ 7374 Add Outstanding checks 700 8074 Less : Bank service charge > (52) Bank service charge $ 8022 Deposits in transit $ 8022 Less Deposits in transit > (3310) 4712 Add Collection on electronic funds transfer 2626 Cash balance per books $ 7338