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Question 2 Skysong, Inc.'s bank statement from Main Street Bank at August 31, 2022, gives the following information. $ 85 Balance, August 1 August deposits
Question 2 Skysong, Inc.'s bank statement from Main Street Bank at August 31, 2022, gives the following information. $ 85 Balance, August 1 August deposits Checks cleared in August Bank credit memorandum: Interest earned $18,710 Bank debit memorandum: 71,310 Safety deposit box fee 68,618 Service charge Balance, August 31 105 110 21,312 A summary of the Cash account in the ledger for August shows the following: balance, August 1, $19,010; receipts $74,310; disbursements $73,510; and balance, August 31, $19,810. Analysis reveals that the only reconciling items on the July 31 bank reconciliation were deposit in transit for $4,860 and outstanding checks of $4,560. In addition, you determine that there was an error involving a company check drawn in August: A check for $400 to a creditor on account that cleared the bank in August was journalized and posted for $40. Determine deposits in transit. Deposits in transit $ LINK TO TEXT Determine outstanding checks. (Hint: You need to correct disbursements for the check error.) Outstanding checks LINK TO TEXT
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