Bank Statement May 31 Amounts Deducted from Account (Debits) Amounts Added to Account (Credits) Date Description Balance May 1 Deposit 21,500 21,500 3 Cheque, No. 001 1,392 20,108 5 Cheque, No. 002 6,133 13,975 15 Deposit 3.999 17,974 19 Cheque, No.004 7.129 10,845 21 Cheque, No. 006 856 9.989 25 Returned cheque-NSF, S. Gillis 1.161 8.828 25 NSF fee 23 8,805 27 Cheque, No. 009 1.829 6,976 28 Cheque, No. 010 1,693 5.283 31 Bank service charges 35 5.248 Ivanhoe's summary of cash receipts (which were all deposited) and summary of cheques (which were all mailed out to the month of May showed the following: Cash Receipts Cash Payments Amount Date Number Amount Date May 1 $21,500 May 2 001 $1,392 15 3,999 3 002 6,133 31 6,724 14 003 1,442 $32.223 15 004 7.129 18 005 309 19 006 856 22 007 1.833 23 008 453 25 009 1,829 26 010 1,693 $23,069 3 Your answer is incorrect. Review Ivanhoe's cash receipts summary and determine the amount of any deposits not recorded by the bank. These will be deposits in transit. (Hint: It can be useful to check off or cross out the deposits that appear on both the bank statement and the cash receipts summary because these will not be deposits in transit.) Deposit in transit of May 31 $ e Textbook and Media