Northville Paper and Paint deposits all receipts and makes all payments by check. The following information is available from the cash records:
Month of May Results
Per Bank Per Books
Balance May 31 $27,995 $24,355
May deposits 10,000 12,889
May checks 11,100 16,080
May note collected 3,000 -0-
(not included in April deposits)
May bank service charge 35 -0-
May NSF check of a customer 900 -0-
returned by the bank
(recorded by bank as a charge)
Calculate the following amounts:
1. Deposits in transit on May 31.
2. Outstanding checks on May 31.