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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

image text in transcribedimage text in transcribedimage text in transcribed 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 $2,440. During July, the general ledger account Cash shows deposits of $18,100, but the bank statement indicates that $19,380 in deposits were received during the month. 2. In August, deposits per bank statement totalled $27,450 and deposits per books were $27,980. Outstanding cheques: 1. The June 30 bank reconciliation reported outstanding cheques of $670. During July, the Wildhorse books showed that $22,120 of cheques were issued. The bank statement showed that $20,900 of cheques cleared the bank in July. 2. In August, cheques issued were $27,610 and cheques clearing the bank were $28,690. What were the deposits in transit at July 31 and at August 31 ? What were the outstanding cheques at July 31 and at August 31

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