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 $ 350 $11,850 Date Aug. 1 2 3 4 5 9 10 15 21 24 25 30 30 31 520 285 805 155 EFT Balance $ 18,310 17,960 29,810 29,290 29,005 28,200 28.045 32.645 32,380 12.380 19,330 18.530 21,580 21,420 4,600 265 $20,000 6,950 800 EFT 3,050 160 t *$3,050 interest collected. tBank service charge. Aug. 1 Balance 17,155 Deposits Aug. 2 12 24 31 11,850 4,600 6,950 6.100 Cash (A) Checks written and electronic funds transfers Aug. 2 4 15 17 18 20 23 EFT 155 805 230 460 EFT 800 265 20.000 Outstanding checks at the end of July were for $285, $520, and $350. No deposits were in transit at the end of July. 200 points Required in Required: 1. Compute the deposits in transit at the end of August by comparing the deposits on the bank statement to the deposits on the castleger account Deposits in 9. Required formation 2.00 points 2. Compute the outstanding checks at the end of August by comparing the checks isted on the bank statement with those on the cash ledger account and the list of outstanding checla at the end of July Quintaning checks