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Question 1. Compute the deposits in transit at the end of August by comparing the deposits on the bank statement to the deposits listed on the cash ledger account.
Question 2. Compute the outstanding checks at the end of August by comparing the checks listed on the bank statement with those on the cash ledger account and the list of outstanding checks at the end of July.
Question 3. Record the entry for deposits during August.
Question 4. Record the entry for checks cleared during August.
Question 5. What total amount of cash should be reported on the August 31, Current Year, balance sheet?
Attachment:- transit.zip
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