Cullumber Inc.'s bank statement from Western Bank at August 31, 2022, gives the following information.

Balance, August 1		$21,000		Bank debit memorandum:
August deposits		72,000		Safety deposit box fee		$30
Checks cleared in August		68,980		Service charge		40
Bank credit memorandum:				Balance, August 31		24,400
Interest earned		50

A summary of the Cash account in the ledger for August shows the following: balance, August 1, $23,100, receipts $82,400; disbursements $76,900; and balance, August 31, $31,300. The analysis reveals that the only reconciling items on the July 31 bank reconciliation were a deposit in transit for $10,100 and outstanding checks of $5,700. In addition, you determine that there was an error involving a company check drawn in August: A check for $560 to a creditor on account that cleared the bank in August was journalized and posted for $75.

(a)

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Your answer is correct.

Determine deposits in transit.

Deposits in transit

$enter deposits in transit in dollars

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(b)

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Determine outstanding checks.

Outstanding checks

$enter outstanding checks in dollars

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