Required information Problem 4-3B Prepare the bank reconciliation and record cash adjustments (LO4-5) [The following information applies to the questions displayed below.) The cash records and bank statement for the month of July for Glover Incorporated are shown below. - GLOVER INCORPORATED Cash Account Records July 1, 2021, to July 31, 2021 Cash Cash Balance Balance July 1, Cash Cash July 31, 2021 + Receipts Disbursements 2021 $6,830 $8,210 $8,180 $6,860 Cash Receipts Cash Disbursements Date Desc. Amount Date Check# Desc. Amount 7/9 Sales $2,490 7/7 531 Rent $1,430 7/21 Sales 3,070 7/12 532 Salaries 1,890 7/31 Sales 2,650 7/19 533 Equipment 2,800 7/22 534 Utilities 830 7/30 Advertising 1,230 $8,210 $ 8,180 535 P.O. Box 123878 FIDELITY UNION Member FDIC Gotebo, OK 73041 You Can Bank On Us (580) 377-OKIE Account Holder: Glover Incorporated Account Number: 2252790471 519 Main Street Gotebo, OK 73041 Statement Date: July 31, 2021 Beginning Withdrawals and Ending Balance Deposits and Credits Debits Balance July 1, 2021 NO. Total NO. Total July 31, 2021 $7,350 3 $5,603 7 $ 7,943 $ 5,010 Deposits and Credits Withdrawals and Debits Daily Balance Date Amount Desc. Date No. Amount Desc. Date Amount 7/10 $2,490 DEP 7/2 530 $ 520 CHK 7/2 $6,830 7/22 3,070 DEP 7/10 531 1,430 CHK 7/10 7,890 7/31 43 INT 7/14 532 1,890 CHK 7/14 6,000 7/18 330 NSF 7/18 5,670 7/22 533 3,300 CHK 7/22 5,440 7/26 430 EFT 7/26 5,010 7/30 43 SF 7/30 4,967 7/31 $5,010 $5,603 $7,943 Desc. DEP Customer deposit INT Interest earned CHK Customer check SF Service fees NSF Nonsufficient funds NOTE Note collected EFT Electronic funds transfer Additional information: a. The difference in the beginning balances in the company's records and the bank statement relates to check #530, which is outstanding as of June 30, 2021. b. Check #533 is correctly processed by the bank. C. The EFT on July 26 relates to the purchase of office supplies. Problem 4-3B Part 1 Required: 1. Prepare a bank reconciliation for Glover's checking account on July 31, 2021. (Amounts to be deducted should be indicated with a minus sign. Total entries to the same account together when entering in the bank reconciliation.) GLOVER INCORPORATED Bank Reconciliation July 31, 2021 Bank's Cash Balance Company's Cash Balance Per bank statement $ 5,010 Per general ledger $ 6,860 Deposits outstanding Interest earned NSF check Service fees Company error Office supplies Checks outstanding Bank balance per Company balance per reconciliation reconciliation