The cash records of Saturn Company show the following:
1. The June 30 bank reconciliation indicated that deposits in transit totaled $970. During July the general ledger account Cash shows deposits of $9,700, but the bank statement indicates that only $8,420 in deposits were received during the month.
2. The June 30 bank reconciliation also reported outstanding checks of $2,100. During the month of July, Saturn Company books show that $11,750 of checks was issued, yet the bank statement showed that $11,100 of checks cleared the bank in July.
There were no bank debit or credit memoranda and no errors were made by either the bank or Saturn Company.

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The Answer of The cash records of Saturn Company show the following:
1. The June 30 bank reconciliation indicated that deposits in transit totaled $970. During July the general ledger account Cash shows deposits of $9,700, but the bank statement indicates that only $8,420 in deposits were received during the month.
2. The June 30 bank reconciliation also reported outstanding checks of $2,100. During the month of July, Saturn Company books show that $11,750 of checks was issued, yet the bank statement showed that $11,100 of checks cleared the bank in July.
There were no bank debit or credit memoranda and no errors were made by either the bank or Saturn Company.

The Cash Records of Saturn Company Show the Following