Jan 31st Balance per Bank $ 7,000

add: Deposits in Transit $ 1,540

deduct: Outstanding

Cheques $ (1,925)

Balance per Books $ 6,615

Feb 28th Month of July data per bank per books

Balance Feb 28th $ 8,565 $ 10,035

Deposits $ 5,000 $ 5,910

Cheques $ 4,100 $ 3,200

Note collected $ 900

Bank service charge $ 15

NSF cheque $ 250

Auto withdrawals $ 680

1) The dollar amount of deposits in transit at February 28th is:

a) 5,910

b) 5,000

c) 3,460

d) 2,450

e) None of the above

2) The dollar amount of outstanding cheques at February 28th is:

a) 4,100

b) 2,175

c) 1,100

d) 1,025

e) None of the above