Answer the following questions (a) In h situation 2, what were the outstanding checks at July 31? ust u buation I, what were the deposits in transit at July 31? 1 (C) In situation 3, what were the deposits in transit at Aug (d) In situation 4, what were the outstanding checks at August ion and E7-11 Perth In.s bank statement from Main Street Bank at Aug following information. 25 50 20,692 Bank debit memorandum: Balance, August I August deposits Checks cleared in August $18,400 71,000 68,678 Safety deposit box fee Service charge Balance, August 31 2 Bank credit memorandum: Interest earned 5 A summary of the Cash account in the ledger for August shows the following: August 1, $18,700; receipts $74,000: disbursements $73,570; and balance, August 31. $19,130. Analysis reveals that the only reconciling items on the July 31 bank reconcili- ation were a deposit in transit for $4,800 and outstanding checks of $4,500. In addition, you determine that there was an error involving a company check drawn in August: A chec k for $400 to a creditor on account that cleared the bank in August was journalized and posted for $40. Instructions (a) Determine deposits in transit. (b) Determine outstanding checks. (Hint: You need to correct disbursements for the check error:) (c) Prepare a bank reconciliation at August 31. (d) Journalize the adjusting entry(ies) to be made by Perth Inc. at August 31. E7-12 A new accountant at Wyne Inc. is trying to identify which of the amounts shovw tant at Wyne Inec is trying to identify which of the amounts show