[The following information applies to the questions displayed below.j The Cash a

Question

[The following information applies to the questions displayed below.j The Cash account in the ledger of Clear Windows shows a balance of $13,710 at September 30. The bank statement, however, shows a balance of $16,703 at the same date. The only reconciling items consist of a bank service charge of $18, a large number of outstanding checks totaling $6,360, and a deposit in transit Part 2 of 2 What is the amount of the deposits in transit? 3.33 points Multiple Choice Print $7,350 $3,349 $3,367 $10,343.

Explanation / Answer

Deposit in transit = Cash balance + Outstanding checks - Balance per bank - Bank service charge

= 13,710 + 6,360 - 16,703 - 18

= 3,349.

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