A company has P1,578,000 cash balance per bank statement, P433,000 deposit in transit, P253,000 NSF check, P105,000 erroneous credit by the bank to the entity's account, and P321,000 outstanding check. What is the adjusted cash balance? A. P1,585,000 B. P1,322,000 C. P1,542,000 D. P1,795,000

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Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.