The following information pertains to Lance Company's cash account for July 2020. 1) Cash balance per bank, July 31, $8,732. 2) July bank service charge not recorded by the depositor $45. 3) Cash balance per books, July 31, $8,786. 4) Deposits in transit, July 31, $3,500. 5) $2,023 collected from a customer for Lance Company in July by the bank through electronic funds transfer. The collection has not been recorded by Lance Company. 6) Outstanding checks, July 31, $1,486. 7) The company issued check No. 889 for $386 to Staples, on account. The check, which cleared the bank in July, was incorrectly journalized and posted by Lance for $368. Required: a) Prepare a bank reconciliation at July 31, 2020. b) Journalize the adjusting entries at July 31 on the books of Lance Company