Cash on hand, including a customer check ₱100,000 dated January 31, 2021₱ 600,000Cash in Bank of Lipa - current account4,000,000Cash in Bank of Lipa - savings account2,650,000Cash in Bank of Makati - savings account(450,000)Cash in bank – payroll account1,000,000Cash in bank – restricted account for plant addition 500,000Cash in Sinking Fund1,000,000Three-month time deposit900,000Traveler’s check200,000Manager’s check300,000Money order75,000 What total amount should be reported as cash on December 31, 2020?

Cash is a legal instrument that can be used to exchange commodities, debt, or services. Sometimes…

Answered: Cash on hand, including a customer…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Cash on hand, including a customer check ₱100,000 dated January 31, 2021	₱ 600,000
Cash in Bank of Lipa - current account	4,000,000
Cash in Bank of Lipa - savings account	2,650,000
Cash in Bank of Makati - savings account	(450,000)
Cash in bank – payroll account	1,000,000
Cash in bank – restricted account for plant addition	500,000
Cash in Sinking Fund	1,000,000
Three-month time deposit	900,000
Traveler’s check	200,000
Manager’s check	300,000
Money order	75,000

What total amount should be reported as cash on December 31, 2020?

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