Required information P6-6 (Algo) Computing Outstanding Checks and Deposits in Transit and Preparing a Bank Reconciliation and Journal Entries LO6-4 [The following information applies to the questions displayed below.] The August, current year, bank statement for Allison Company and the August, current year, ledger account for cash follow: BANK STATEMENT Date Checks and EFTS Deposits Balance Aug. 1 $18,210 2 $ 335 17,875 3 $12,600 30,475 4 460 30,015 5 325 29,690 9 845 28,845 10 230 EFT 28,615 15 4,700 33,315 21 290 33,025 24 $20,100 12,925 25 6,550 19,475 30 850 EFT 18,625 30 2,950 * 21,575 31 200 t 21,375 *$2,950 interest collected. Bank service charge. Cash (A) Aug. 1 Balance 17,090 Checks written and electronic funds transfers Deposits Aug. 2 EFT 230 Aug. 2 12,600 4 845 12 4,700 15 230 24 6,550 17 460 31 5,300 18 EFT 850 20 290 23 20,100 Outstanding checks at the end of July were for $325, $460, and $335. No deposits were in transit at the end of July. P6-6 Part 1 Required: 1. Compute the deposits in transit at the end of August by comparing the deposits on the bank statement to the deposits listed on the cash ledger account. Deposits in transit