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Exercise 7-11 (Part Level Submission) Marin Inc.'s bank statement from Main Street Bank at August...

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Exercise 7-11 (Part Level Submission) Marin Inc.'s bank statement from Main Street Bank at August 31, 2017, gives the following information. Balance, August 1 August deposits Checks cleared in August Bank credit memorandum: CALCULATOR PRINTER VERSION BACK NEXT $18,620 71,220 68,648 Bank debit memorandum: Safety deposit box fee Service charge Balance, August 31 $ 55 80 21,132 Interest earned 75 A summary of the Cash account in the ledger for August shows the following: balance, August 1, $18,920; receipts $74,220; disbursements $73,540; and balance, August 31, $19,600. Analysis reveals that the only reconciling iterns on the July 31 bank reconciliation were a deposit in transit for $4,830 and outstanding checks of $4,530. In addition, you determine that there was an error involving a compary in August: A check for $400 to a creditor on account that cleared the bank in August was journalized and posted for $40 Determine deposits in transit. Deposits in transit s 1:54 AM OUNTS

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