The cash records of Wildhorse Inc. show the following situations: Deposits in transit: 1. The June 30 bank reconciliation indicated that deposits in transit total $2,000. During July, the general ledger account Cash shows deposits of $14,800, but the bank statement indicates that $15,860 in deposits were received during the month In August, deposits per bank statement totalled $22,500 and deposits per books were $22.920. 2. Outstanding cheques: 1 The June 30 bank reconciliation reported outstanding cheques of $560. During July, the Wildhorse books showed that $18,160 of cheques were issued. The bank statement showed that $17,160 of cheques cleared the bank in July In August, cheques issued were $22,660 and cheques clearing the bank were $23,520. 2. (a) What were the deposits in transit at July 31 and at August 31? July 31 August 31 $ $ Deposit in transit