Ayayai Corp. deposits all receipts intact and makes all payments by cheque. The following information is available from the cash

records:

Month of May Results

$($a$)$

Determine the amount of deposits in transit and outstanding cheques at May $31.$ Keep in mind the time lag between deposits and

cheques being recorded in the books and when they are recorded by the bank.

Deposits in transit, May $31$

Outstanding cheques, May $31$

$