The cash records of George Company show the following: 1.   In September, deposits per the bank statement totaled $36,800; deposits per books $38,000; and deposits in transit at September 30 were $4,900. 2.   In September, cash disbursements per books were $35,600; checks clearing the bank were $38,900; and outstanding checks at September 30 were $3,000. There were no bank debit or credit memoranda and no errors were made by either the bank or George Company. (a)     What were the deposits in transit at August 31? Deposits in transit at August 31   $

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Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.