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On April 30, the bank reconciliation of Ivanhoe Company shows a deposit in transit of $1,489. The May bank statement and the general ledger Cash
On April 30, the bank reconciliation of Ivanhoe Company shows a deposit in transit of $1,489. The May bank statement and the general ledger Cash account in May show the following:
IVANHOE COMPANY Bank Statement (partial) Deposits | |||||
Date | Description | Amount | |||
May 1 | Deposit | $1,489 | |||
5 | Deposit | 2,355 | |||
12 | Deposit | 3,292 | |||
20 | Deposit | 965 | |||
26 | Deposit | 1,378 | |||
30 | EFT | 1,036 | |||
30 | Interest Earned | 52 |
IVANHOE COMPANY Cash Account (partial) Deposits Made | ||||
Date | Amount | |||
May 2 | $2,355 | |||
9 | 3,229 | |||
16 | 965 | |||
23 | 1,378 | |||
30 | 1,405 |
Additional information:
1. | The bank did not make any errors in May. | |
2. | EFT is an electronic online payment from a customer. |
(a) Calculate the total of deposits in transit at May 31.
Deposits in transit at May 31 | $ |
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