The following information pertains to Crane Company.

Cash balance per bank, July $31,$$$9,222.$

July bank service charge not recorded by the depositor $$53.$

Cash balance per books, July $31,$$$9,328.$

Deposits in transit, July $31,$$$3,763.$

$$2,120$ collected for Crane Company in July by the bank through electronic funds transfer. The accounts receivable collection has not been recorded by Crane Company.

Outstanding checks, July $31,$$$1,590.$

Prepare a bank reconciliation at July $31,2022.($List items that increase balance as per bank & books first.$)$

CRANE COMPANY

Bank Reconciliation

Journalize the adjusting entries at July $31$ on the books of Crane Company. $($Credit account titles are automatica$$ly indented when amount is entered. Do not indent manually.$)$

Date Account Titles and Explanation

Debit

Credit

July $31$

$($To record electronic funds transfer received by bank$)$

July $31$

$($To record bank service charge$)$