May 31 deposits are reflected on June 3 amounting to $16,800. Adding all the deposits recorded in the book, it amounts to $84,000. However, in the bank statement, only $79,000 is reflected. Compute for the deposit in transit at the end of June.

May 31 deposits are reflected on June 3 amounting to $16,800. Adding all the deposits recorded in the book, it amounts to $84,000. However, in the bank statement, only $79,000 is reflected. Compute for the deposit in transit at the end of June.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter17: Accounting For Notes And Interest

Section: Chapter Questions

Problem 1CE

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Question

May 31 deposits are reflected on June 3 amounting to $16,800. Adding all the
deposits recorded in the book, it amounts to $84,000. However, in the bank
statement, only $79,000 is reflected. Compute for the deposit in transit at the
end of June.

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