Question 1 Kingbird, Inc.'s bank statement from Main Street Bank at August 31, 2022, gives the following information. Balance, August 1 $18,770 Bank debit memorandum: August deposits 71,370 Safety deposit box fee $ 105 Checks cleared in August 68,598 Service charge Bank credit memorandurn: Balance, August 31 21.432 Interest earned 125 A surnmary of the Cash account in the ledger for August shows the following: balance, August 1, $19,070; receipts $74,370; disbursements $73,490; and balance, August 31, $19,950. Analysis reveals that the only reconciling items on the July 31 bank reconciliation were a deposit in transit for $4,990 and outstanding checks of $4.SBD. In addition, you determine that there was an error involving a company check drawn in August: A check for $400 to a creditar on account that cleared the bank in August was journalized and pasted for $40. Your answer is correct. Determine deposits in transit. Deposits in transit 7800 SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT Attempts: 1 of 5 used x Your answer is incorrect. Try again. Determine outstanding checks. (Hint: You need to correct disbursements for the check error.) Outstanding checks T 10,132