AB Ltd. had $3,077 in outstanding cheques at the end of July and half of that amount in deposits in transit. Bank service charges are $289 for July and there are no other reconciling items in the July bank reconciliation.

Required 1: By how much the adjusted balance shown on the balance sheet is higher or lower than the trial balance? $

Required 2: What is the total credits on the cash account because of the Adjusting Journal entries based on the above information? $