ABC Company prepared the following bank reconciliation dated June 30 of the current year: Balance per bank Deposits-in-transit Outstanding checks Balance per book 9,800,000 400,000 (1,400,000) 8,800,000 In the July bank statement, there were total credits of P6,500,000 and total debits of P9,000,000. All reconciliation items on June 30 cleared the bank as of July 31. Deposits-in-transit and checks outstanding amounted to P600,000 and P1,000,000, respectively, on July 31.
ABC Company prepared the following bank reconciliation dated June 30 of the current year: Balance per bank Deposits-in-transit Outstanding checks Balance per book 9,800,000 400,000 (1,400,000) 8,800,000 In the July bank statement, there were total credits of P6,500,000 and total debits of P9,000,000. All reconciliation items on June 30 cleared the bank as of July 31. Deposits-in-transit and checks outstanding amounted to P600,000 and P1,000,000, respectively, on July 31.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Please answer 39, ty
Transcribed Image Text:For the next two (2) questions:
ABC Company prepared the following bank reconciliation dated June 30 of the current year:
Balance per bank
Deposits-in-transit
Outstanding checks
Balance per book
9,800,000
400,000
(1,400,000)
8,800,000
In the July bank statement, there were total credits of P6,500,000 and total debits of P9,000,000. All reconciliation items
on June 30 cleared the bank as of July 31. Deposits-in-transit and checks outstanding amounted to P600,000 and
P1,000,000, respectively, on July 31.
39) What is the amount of unadjusted cash receipts per book in July?
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