Cave Inc.'s bank statement from Friendly Bank at August 31, 2019, provided the following information: Balance, August 1 August deposits Cheques cleared in August Bank credit memorandum: Interest earned $18,600 71,000 66,678 Bank debit memorandum: Safety deposit box fee Service charge Balance, August 31 $ 25 30 22,912 45 A summary of the Cash account for August shows the following: balance, August 1, $ 21,100, receipts $ 81,000; disbursements $ 73,570; and . balance, August 31, $ 28,530. Analysis reveals that the only reconciling items on the July 31 bank reconciliation statement were deposit in transit for $ 7,000 and outstanding checks of $ 4,500. In addition, you determine that there was an error involving a company cheque drawn in August: cheque for $400 to a creditor on account that cleared the bank in August was recorded for $40. Required (a) (b) Determine deposits in transit Determine outstanding cheques Prepare a bank reconciliation statement at August 31 (c)