q15t

Riverbed Corp, deposits all recelpts intact and makes all payments by cheque. The following information is avalable from the cash records: Question 15 of 16 \begin{tabular}{|lrr|} \hline & Month of May Results & \\ \hline Balance on May 31 & Per Bank & Per Books \\ \hline May deposits & $8,755 & 59,050 \\ May cheques & 4,990 & 5,750 \\ May note collected (not included in May deposits) & 4,210 & 3,020 \\ May bank service charge & 1.090 \\ \hline May NSF cheque from a customer, returned by the bank (recorded by the bank as a charge) & 40 \\ \hline \end{tabular} (a) Determine the amount of deposits in transit and outstanding cheques at May 31. Keep in mind the time lag between deposits and Determine the amount of deposits in transit and outstanding cheques at May 31. Keep in mind the time lag between deposits and cheques being recorded in the books and when they are recorded by the bank. Deposits in transit: May 31 Outstanding cheques, May 31 Attempts: 0 of 1 used (b) The parts of this question must be completed in order. This part will be available when you complete the part above