Problem 6-4A Preparing a bank reconciliation and recording adjustments LO P3[The following information applies to the questions displayed below.]The following information is available to reconcile Branch Company’s book balance of cash with its bank statement cash balance as of July 31.On July 31, the company’s Cash account has a $24,827 debit balance, but its July bank statement shows a $26,388 cash balance. Check No. 3031 for $1,190, Check No. 3065 for $371, and Check No. 3069 for $1,958 are outstanding checks as of July 31.Check No. 3056 for July rent expense was correctly written and drawn for $1,240 but was erroneously entered in the accounting records as $1,230.The July bank statement shows the bank collected $7,000 cash on a note for Branch. Branch had not recorded this event before receiving the statement. The bank statement shows an $805 NSF check. The check had been received from a customer, Evan Shaw. Branch has not yet recorded this check as NSF. The July statement shows a $11 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been received. Branch’s July 31 daily cash receipts of $8,132 were placed in the bank’s night depository on that date but do not appear on the July 31 bank statement. Problem 6-4A Part 1Required:1. Prepare the bank reconciliation for this company as of July 31.