The bookkeeper for Sheridan Manufacturing Ltd. was trying to determine what items would be used in preparing the company's bank reconciliation that she is completing at May 31, 2021, the end of the company's first month of operations. The company's bank statement showed the following: SHERIDANMANUFACTURING LTD. Bank Statement May 31 Amounts Deducted Amounts from Added Account to Account Description (Debits) (Credits) Date Balance May 1 23,000 3 1,488 5 6,562 23,000 21,512 14,950 19,228 11,601 10,685 15 4,278 19 7,627 916 21 Deposit Cheque, No. 001 Cheque, No. 002 Deposit Cheque, No. 004 Cheque, No. 006 Returned cheque-NSF, S. Gillis NSF fee Cheque, No. 009 Cheque, No. 010 Bank service charges 25 1,242 9,443 25 26 27 1,958 1,810 9,417 7,459 5,649 5,611 28 31 38 Sheridan's summary of cash receipts (which were all deposited) and summary of cheques (which were all mailed out to suppliers) for the month of May showed the following: Cash Receipts Cash Payments Sheridan's summary of cash receipts (which were all deposited) and summary of cheques (which were all mailed out to suppliers) for the month of May showed the following: Cash Receipts Cash Payments Number Amount Amount Date Date May 1 May 2 001 15 3 002 $23,000 4,278 7,192 $34,470 $1,488 6,562 1,544 7,627 31 14 003 15 004 18 005 330 19 006 916 22 007 1,962 23 008 486 25 009 26 010 1,958 1,810 $24,683 (a) Review Sheridan's cash receipts summary and determine the amount of any deposits not recorded by the bank. These will be deposits in transit. (Hint: It can be useful to check off or cross out the deposits that appear on both the bank statement and the cash receipts summary because these will not be deposits in transit.) Deposit in transit of May 31 $