How much were the deposit in transit at September

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Question - As of September 30, 2019, the Cash in Bank account in Lira Company's general ledger shows cash receipts (book debits) of P30,500 and cash payments (book credits) of P24,000.

The bank statement for the same month indicates that only P30,200 in deposits were received during the month and checks clearing the bank were P23,600.

August 31, 2019 bank reconciliation showed deposits in transit of P9,500. Outstanding checks at September 30, 2019 were P2,000.

Required - How much were the deposit in transit at September 30, 2019 and the outstanding checks at August 31, 2019?

Reference no: EM132526269

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