The cash account and the December bank statement of Gomez Company showed the following:
Deposits made by Gomez Company during December $90,000; deposits reflected on the December bank statement,$88,000; and deposits in transit on December 1,$5,000.How much were the deposits in transit at the end of December?
A) $10,000
B) $7,000
C) $5,000
D) $2,000
Correct Answer:
Verified
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