For the months of January and February, Crane Ltd. recorded cash deposits in its books of $5,300 and $5,500, respectively. For the same two months, the bank reported deposits totalling $3,900 and $4,200, respectively. Assuming that there were no deposits in transit at the beginning of January, what was the amount of deposits in transit at the end of January and at the end of February? Deposit in transit $ January $ February

For the months of January and February, Crane Ltd. recorded cash deposits in its books of $5,300 and $5,500, respectively. For the same two months, the bank reported deposits totalling $3,900 and $4,200, respectively. Assuming that there were no deposits in transit at the beginning of January, what was the amount of deposits in transit at the end of January and at the end of February? Deposit in transit $ January $ February

College Accounting (Book Only): A Career Approach

12th Edition

ISBN:9781305084087

Author:Cathy J. Scott

Publisher:Cathy J. Scott

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 2E

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