Listed below are eight interbank cash transfers for Steven Smith Co., indicated by the letters a through h, for late December 20X1 and early January 20X2. Disbursing Bank Receiving Bank (Month/Day) (Month/Day) Per Bank Per Books Per Bank Per Books Amount a. 12/29 12/29 12/29 12/29 $52,000 b. 1/02 12/30 12/31 12/30 16,000 C. 1/04 12/31 1/02 1/02 24,000 d. 1/04 12/31 1/02 12/31 44,000 e . 1/04 1/01 1/03 1/01 15,600 f. 1/02 1/01 12/31 12/31 76,000 g. 1/03 1/02 12/31 1/02 42,000 h. 12/31 1/03 12/30 1/03 10,000 For each of the transfers a through h, (1) indicate whether cash is understated, overstated, or correct as a result of the transfer; and (2) provide a brief example of what could cause the situation. Answer in a form such as the one illustrated here. Transfer Understated, Example Overstated, or Correct a . Correct Book entries: The transfer was recorded in the accounting records as a check written on the disbursitis December 29 and a corresponding cash receipt recorded to receiving bank on that date. Bank entries: The check was taken to the receiving bank on December 29 and deposited. The accounts are both in the same bank, and accordingly the transaction was recorded in both accounts as of that date. Work in the following groups: Read What you need to do: 1. Read the problem 2. Read the solution The pictures down this page 3. Answer the question in your way don't copy anything from solution. I'm giving the solution to show you how to do it not to copy it