The August, current year, bank statement for Allison Company and the August, current year, ledger account for cash follow: BANK STATEMENT Checks and EFTS Deposits $ 370 $12,300 Date Aug. 1 2 3 4 5 9 10 15 21 24 25 30 30 31 475 370 790 180 EFT Balance $ 18,160 17,790 30.090 29,615 29,245 28.455 28,275 33,275 32,930 13,330 20,280 19,480 22,530 22,420 5,000 345 $19,600 6,950 800 EFT 3,050 110 *$3,050 Interest collected. tBank service charge. Aug. 1 Balance 16.945 Deposits Aug. 2 12 24 31 12,300 5,000 6.950 6,150 Cash (A) Checks written and electronic funds transfers Aug. 2 4 15 17 18 20 23 EFT 180 790 230 510 EFT 800 345 19.600 Outstanding checks at the end of July were for $370, $475, and $370. No deposits were in transit at the end of July. value: 2.00 points 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