Use the following information for the next three questions:

The accounting records and bank statement of Entity A show the following information:

Additional information: . The payments of #2,000 and $50,000 shown on the bank statement pertain to the cost of checkbook requested from the bank and the monthly amortization of a bank loan, respectively. The loan payment includes payment for interest of $8,000. Deposits shown on the bank statement but not on the cash ledger represent collections of accounts receivable. 7. How much is the deposit in transit? a. 160,000 b. 102,000 c. 52,000 d. 380,000 8. How much is the credit memo? a. 52,000 b. 160,000 760,000 d. 380,000 9. How much is the adjusted cash balance? a. 1,940,000 b. 1,760,000 c. 1,380,000 d. 1,904,000Use the following information for the next three questions: The accounting records and bank statement of Entity A show the following information: SUBSIDIARY LEDGER CASH IN BANK - BPI CURRENT ACCOUNT Date Description Debit Credit Balance 6/1 Bal. forwarded 881,000 6/11 Check #1113 130,800 750,200 6/15 Check #1114 220,000 530,200 6/16 Deposit 295,800 826,000 6/22 Deposit 670,000 1,496,000 6/24 Check #1115 80,000 1,416,000 6/28 Check #1116 380,000 1,036,000 6/29 Deposit 160,000 1,196,000 METROBANK BANK STATEMENT - ENTITY A Date Description Debit Credit Balance 6/1 Bal. forwarded 881,000 6/10 Deposit 350,000 1,231,000 6/15 Payment 2,000 1,229,000 6/15 Check #1114 220,000 1,009,000 6/16 Deposit 295,800 1,304,800 6/20 Payment 50,000 1,254,800 6/22 Deposit 670,000 1,924,800 6/24 Check #1115 80,000 1,844,800 6/26 Check #1113 130,800 1,714,000 6/28 Deposit 410,000 2,124,000