Android Studio Error "Minimum supported Gradle version is 7.0.2. Current version is 6.8."

The error:

Minimum supported Gradle version is 7.0.2. Current version is 6.8.

Likely means:

• Your "\gradle"-folder is missing from your project folder:
  (Note: Not to be mistaken for the ".gradle"-folder which is a different folder)

  Solution:
  Get a copy of the "\gradle"-folder from another working project (or create a new project).

Or:

• Your "\gradle\wrapper\gradle-wrapper.properties" has an incorrect value in the "distributionUrl=":

  Solution:
  Change the value in "\gradle\wrapper\gradle-wrapper.properties" to
  distributionUrl=https\://services.gradle.org/distributions/gradle-7.0.2-bin.zip

I hade the same problem after moving my project to another computer:

Minimum supported Gradle version is 7.0.2. Current version is 6.8.

Please fix the project's Gradle settings.
Gradle Settings.

Clicking on the "Gradle Settings"-link opened the Gradle settings Window, but the Gradle JDK was already correctly set to version 11:

So my next step was to check the Project Structure:

And update the Gradle Version to 7.0.2:

But that led to this error instead:

¤ What went wrong:
An exception occurred applying plugin request [id: 'com.android.application']
» Failed to apply plugin 'com.android.internal.version-check'.
» Minimum supported Gradle version is 7.0.2. Current version is 6.8. If using the gradle wrapper, try editing the distributionUrl in D:\Files\Code-Project\gradle\wrapper\gradle-wrapper.properties to gradle-7.0.2-all.zip

Now the error points me towards a problem within the "\gradle\wrapper\gradle-wrapper.properties"-file.

Looking into that I found out the real problem - the "\gradle"-folder was completely missing.
(Note: The "\.gradle"-folder is not the same as the "\gradle"-folder)

Copying the "\gradle"-folder from another project solved my problems.

Now my "\gradle\wrapper\gradle-wrapper.properties"-file looks like this:

Go to gradle wrapper properties

In the distribution url line change gradle version from 6.5 to 7.0.2 or the current version when you see this

Next update the Gradle Version in Android Studio select invalidate cache and restart solve the issue. Go to Menu File->Invalidate cache..-> Invalidate and Restart.