At September 30, the Cash account in the general ledger of Breen Construction shows a balance of $13,221. However, the bank statement shows a balance of $16,720 at the same date. The only reconciling items consist of a bank service charge of $42, outstanding checks totaling $4,744, a deposit in transit, and an error in recording check no. 529. Check no. 529 was written in the amount of $772 but was recorded as $727 in Breen's accounting records.
-Refer to the above data. What is the amount of the deposit in transit?

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The Answer of At September 30, the Cash account in the general ledger of Breen Construction shows a balance of $13,221. However, the bank statement shows a balance of $16,720 at the same date. The only reconciling items consist of a bank service charge of $42, outstanding checks totaling $4,744, a deposit in transit, and an error in recording check no. 529. Check no. 529 was written in the amount of $772 but was recorded as $727 in Breen's accounting records.
-Refer to the above data. What is the amount of the deposit in transit?

At September 30, the Cash Account in the General Ledger