From the March 31, 2011, bank statement of Craig's Wide Corporation: Balance March 1 Total Checks and Debits Total Deposits and Credits $ 5,325 $ 7.830 Balance March 31 $ 17,513 $ 15,008 Checks and Debits Deposits and Credits Date No. Amount Code Date Amount Code 3/3 2874 1.210 3/1 3,600 3/11 2906 3.850 3/7 4.340 3/15 2905 170 3/8 1,980 CM 3/25 2909 725 3/27 7,270 3/29 2908 1,350 3/31 323 IN 3/30 500 NSF 3/30 25 SC NSF: SC: CM IN: A check from Third Blossom Supplies, in payment of their account, bounced. The bank charged for check printing. The bank collected a $2,000 note for Craig's Wide and deducted a $20 collection fee. The account earned interest. From the Craig's Wide Corporation's accounting records: Cash Receipts Deposited Cash Disbursements Cash Check Cash Date Debit No. Credit 3/7 4,340 2905 170 3/27 7,270 2906 3,850 3/31 2,090 2907 460 2908 1,530 13,700 2909 725 2910 340 7,075 Cash Acct. 101 Date Explanation Debit Credit Balance 02/28/11 Balance 6.839 3/31/11 Cash receipts 3/31/11 Cash disbursements 13,700 20,539 7,075 13,464 Subsequent investigation revealed that although Check 2908 was correctly made out for $1,350, the bookkeeper transposed the middle two digits and recorded the check amount erroneously in the Cash Disbursements Journal. The check was in payment of a color printer for the office and the disbursement entry debited the Office Equipment account for $1,530. When the bank statement was last reconciled at the end of February, the bookkeeper noted a deposit in transit as of February 28th of $3,600 and two outstanding checks (check no. 2874 for $1,210 and check no. 2877 for $876).