The following information pertains to Lance Company. Cash balance per bank, July 31, $7, 328 July bank service charge not recorded by the depositor $38. Cash balance per books, July 31, $7, 364. Deposits in transit, July 31, $2, 700. $2, 016 collected for Lance Company in July by the bank through electronic funds transfer. The collection has not been recorded by Lance Company. Outstanding checks, July 31, $686. Prepare a bank reconciliation at July 31, 2017. (List items that increase balance as per bank & books first.) Journalize the adjusting entries at July 31 on the books of Lance Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)