The cash records of mercury company show the following 1.) the June 30 bank reconciliation indicated that deposits in transit totaled 790. During July the general ledger account cash shows deposits of 9,800 but the bank statement indicates that the only 8,240 in deposits were received during the month. 2) the June 30 reconciliation also reported outstanding checks of 1,200 during the month of July. Mercury company books show that 11,570 of checks were issued yet the bank statements showed that 11,100 of checks cleared the bank in July There were no bank debit or credit memoranda and no errors were made by either the bank or mercury company