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The cash records of George Company show the following: 1. In September, deposits per the bank statement totaled $36,800; deposits per books $38,000; and deposits
The cash records of George Company show the following: 1. In September, deposits per the bank statement totaled $36,800; deposits per books $38,000; and deposits in transit at September 30 were $4,900. 2. In September, cash disbursements per books were $35,600; checks clearing the bank were $38,900; and outstanding checks at September 30 were $3,000. There were no bank debit or credit memoranda and no errors were made by either the bank or George Company. Answer the following questions: (a) What were the deposits in transit at August 31? (b) What were the outstanding checks at August 31
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