Wildhorse Inc's bank statement from Western Bank at August 31, 2022, shows the following information $ 16,400 Balance, August 1 August deposits 73,000 Cheques cleared in August ) 68,682 45 Bank credit for interest earned not yet accrued Bank debit for safety deposit box fee Bank service charge (25) (50) Balance, August 31 $ 20,688 A summary of the Cash account in the ledger for August shows the following: Reconciled cash balance, August 1, $ 16,900; cash receipts deposited $ 77,000; cheque disbursements $ 73.566; and unreconciled cash balance. August 31,$ 20,334. Analysis reveals that the only reconciling items on the July 31 bank reconciliation were a deposit in transit for $5,000 and outstanding cheques of $ 4,500. In addition, you determine that there was an error involving a company cheque drawn in August: A cheque for $ 400 payable to a supplier on account that cleared the bank in August was journalized and posted for $40. A summary of the Cash account in the ledger for August shows the following: Reconciled cash balance August 1. $ 16,900 cash receipts deposited $ 77,000, cheque disbursements $ 73,566; and unreconciled cash balance, August 31,5 20,334. Analysis reveals that the only reconciling items on the July 31 bank reconciliation were a deposit in transit for $5,000 and outstanding cheques of 4.500. In addition, you determine that there was an error involving a company cheque drawn in August: Acheque for $ 400 payable to a supplier on account that cleared the bank in August was journalized and posted for $40. (a) Your answer is incorrect Calculate deposits in transit at August 31. Deposits in transit $ eTextbook and Media List of Accounts Attempts: 1 of 15 used Submit Answer Save for Later