Question

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.)

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 Balance July 31, 2021 $6,510 Cash Balance July 1, Cash 2021 + Receipts $7,030 $8,360 Cash Receipts Date Desc. 7/9 Sales 7/21 Sales 7/31 Sales Amount $ 2,540 3,120 2,700 Date 7/7 7/12 7/19 7/22 7/30 Cash Disbursements $8,880 Cash Disbursements Check# Desc. 531 Rent 532 Salaries 533 Equipment 534 Utilities 535 Advertising Amount $1,480 1,940 3,300 880 1,280 $8,880 $8,360

Answer 1

6,510 Bank's Cash Balance Before reconciliation Checks outstanding (Check No. 534 and 535) Deposits outstanding GLOVER INCORPORATED Bank Reconciliation July 31, 2012 Company's Cash Balance 4,810 Before reconciliation -2,160 Interest earned 2,700 EFT on office supplies Service fees NSF check Company error (Check No.533) 5,350 After reconciliation 48 480 -48 -380 -300 5,350 After reconciliation $