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Required information Problem 4-3B Prepare the bank reconciliation and record cash adjustments (L04-5) (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 Balance July 31, 2021 $7,000 Cash Balance July 1, Cash 2021 + Receipts $6,750 $8,150 Cash Receipts Date Desc. 7/9 Sales 7/21 Sales 7/31 Sales Amount $ 2,470 3,050 2,630 Date 7/7 7/12 7/19 7/22 7/30 Cash Disbursements $7,900 Cash Disbursements Check Desc. 531 Rent 532 Salaries 533 Equipment 534 Utilities 535 Advertising Amount $1,410 1,870 2,600 810 1,210 $ 7,900 $ 8,150 Member FDIC 2252790471 July 31, 2021 P.O. Box 123878 FIDELITY UNION Gotebo, OK 73041 You Can Bank On Us (580) 377-OKIE Account Holder: Glover Incorporated Account Number: 519 Main Street Gotebo, OK 73041 Statement Date: Withdrawals and Beginning Balance Deposits and Credits Debits July 1, 2021 NO. Total $7,250 3 $5,561 7 $ 7,541 Deposits and Credits Withdrawals and Debits Date Amount Desc. Date No. Amount Desc. 7/10 $2,470 DEP 7/2 530 $ 500 CHK 7/22 3,050 DEP 7/10 531 1,410 CHK 7/31 INT 7/14 532 1,870 CHK 7/18 310 NSF 7/22 533 3,000 CHK 7/26 410 EFT 7/30 41 Ending Balance July 31, 2021 $ 5,270 Daily Balance Date Amount 7/2 $ 6,750 7/10 7,810 7/14 5,940 7/18 5,630 7/22 5,680 7/26 5, 270 7/30 5, 229 7/31 $5,270 $ 5,561 $ 7,541 Desc. DEP Customer deposit NOTE Note collected EFT Electronic funds transfer INT Interest earned CHK Customer check SF Service fees NSF Nonsufficient funds 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 Per general ledger Deposits outstanding Company error Checks outstanding Interest earned NSF check Service fees Office supplies Bank balance per reconciliation Company balance per reconciliation

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