Blue Spruce Corp. deposits all receipts intact and makes all payments by cheque. The following information is available from the cash records: April 30 Bank Reconciliation Balance per bank $7,430 Add: Deposits in transit 1,530 Deduct: Outstanding cheques (2.400) Balance per books $6,560 Month of May Results Per Bank Per Books $8,580 $8.860 4,870 5,550 4,380 3,250 1.065 35 Balance on May 31 May deposits May cheques May note collected (not included in May deposits) May bank service charge Month of May Results Per Bank Per Books Balance on May 31 May deposits May cheques May note collected (not included in May deposits) May bank service charge $8,580 $8,860 4,870 5,550 4,380 3,250 1,065 35 May NSF cheque from a customer, returned by the bank (recorded by the bank as a charge) 370 (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