Question

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 Cash Balance July 1. Cash 2021 Receipts 57,390 58,630 Cash Receipts Date Desc 7/9 Sales 7/21 Sales 7/31 Sales July 31, 2021 $5,888 Amount $2,630 3,210 2,790 Date 7/2 7/12 7/19 7/22 7/30 Cash Disbursements $10,140 Cash Disbursements Check Desc 531 Rent 532 Salaries 533 Equipment 534 Utilities Advertising Amount $ 1.570 2,03e 4,200 970 1,370 $10,140 535 $8,630 Member Forc P.O. Box 123875 FIDELITY UNION Gotebo, OK 73041 You coe Banho (580) 377-OKTE Account Holder: Glover Incorporated Account Number 519 Main Street Gotebo, OK 7341 Statement Date: Beginning Balance Deposits and Credits July 1, 2021 Withdrawals and Debits NO Total NO $8,ese Total 3 55,897 Deposits and Credits withdrawals and Debits Amount Desc Date No. Amount Desc 7/10 $2,630 DEP 7/2 7/22 530 $ 662 CHE 3,210 DEP 7/10 1,50 CHE 7/31 57 INT 7/14 532 2.ee ORK 7/18 NSF 7/22 533 4,600 CHK 7/26 570 EFT 7/30 57 SF 55,897 7252790471 July 31, 2021 Ending Balance July 31, 2021 $ 3,990 Daily Balance Date 772 $7,390 7/10 8,450 7/14 6,420 5,950 7/22 7/26 3,990 7/30 3,933 7/31 $3.990 Ancent 7/18

Answer 1

1)
GLOVER INCORPORATED
Bank Reconciliation
July 31, 2021.
Bank's Cash Balance		Company's Cash Balance
Per bank statement	$3,990	Per general ledger	$5,880
Add: Deposits outstanding	$2,790	Add: Interest earned	$57
Less: Checks outstanding:		Less: NSF check	($470)
# 534	($970)	Less: Service fees	($57)
# 535	($1,370)	Less: Company error # 533 ($4,600 - $4,200)	($400)
		Less: Purchase of office supplies	($570)
Bank balance per reconciliation	$4,440	Company balance per reconciliation	$4,440