A summary of the Cash account in the ledger for August shows the following: balance, August 1, $19,040; receipts $74,340; disbursements $73,550; and balance, August 31, $19,830. Analysis reveals that the only reconciling items on the July 31 bank reconciliation were a deposit in transit for $4,820and outstanding checks of $4,520. In addition, you determine that there was an error involving a company check drawn in August: A check for $400to a creditor on account that cleared the bank in August was journalized and posted for $40.