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Sage Hill Inc's bank statement from Main Street Bank at August 31, 2022, gives the following information. Balance, August 1 $ 18,585 Bank debit memorandum:
Sage Hill Inc's bank statement from Main Street Bank at August 31, 2022, gives the following information. Balance, August 1 $ 18,585 Bank debit memorandum: Safety deposit box fee August deposits 71,185 $ 40 68,663 Service charge 65 Checks cleared in August Bank credit memorandum: Balance, August 31 21,062 Interest earned 60 A summary of the Cash account in the ledger for August shows the following: balance, August 1, $ 18,885; receipts $ 74,185; disbursements $ 73,555; and balance, August 31. $ 19,515. Analysis reveals that the only reconciling items on the July 31 bank reconciliation were a deposit in transit for $4,815 and outstanding checks of $ 4,515. 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 $ $ Determine outstanding checks. (Hint: You need to correct disbursements for the check error.) Outstanding checks $ e Textbook and Media List of Accounts SAGEHILLINC. Bank Reconciliation August 31, 2022 $ LA
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