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Calculate the amount of the deposit in transit

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Reference no: EM131988633

Question - At June 30, 2004, the cash account in the general ledger of XYZ Company shows a balance of $16,200. The June 30 bank statement; however, shows a balance of $19,025. The only reconciling items consist of:

• Bank service charges of $12

• Outstanding checks totaling $4,800

• NSF check from customer in the amount of $228

• Error in recording check #970 written by XYZ Company to pay for utilities; the check was written for $458 but was recorded in XYZ Company's accounting records as having been written for $588

• A deposit in transit

Calculate the amount of the deposit in transit. Do not use decimals in your answer.

Reference no: EM131988633

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