Chapter 17, Problem 17.26E

Murdock Corporation's July 31 bank reconciliation shows deposits in transit of $1,800. The general ledger Cash in Bank account shows total cash receipts during August of $62,400. The August bank statement shows total cash deposits of $60,900 (and no credit memos). What amount of deposits in transit should appear in the August 31 bank reconciliation?

2. What does the accounting equation represent? A) Revenue = Expenses + ProfitB) Assets = Liabilities + EquityC) Liabilities = Equity - AssetsD) Revenue = Assets - LiabilitiesNeed help!

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2. What does the accounting equation represent? A) Revenue = Expenses + ProfitB) Assets = Liabilities + EquityC) Liabilities = Equity - AssetsD) Revenue = Assets - Liabilities

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