Eastem Company's bank statement for the month of December included the following information: Ending balance Bank service charge for December Interest paid by the bank to Eastern for December 2,800,000 12,000 10,000 In comparing the bank statement to its own cash records, Eastern Company found the following: Deposits made but not yet recorded by the bank Checks written and mailed but not yet recorded by bank 350,000 650,000 In addition, Eastern Company discovered that it had drawn and erroneously recorded a check for P46,000 that should have been recorded for P64,000. What is the cash balance per ledger on December 31?
Eastem Company's bank statement for the month of December included the following information: Ending balance Bank service charge for December Interest paid by the bank to Eastern for December 2,800,000 12,000 10,000 In comparing the bank statement to its own cash records, Eastern Company found the following: Deposits made but not yet recorded by the bank Checks written and mailed but not yet recorded by bank 350,000 650,000 In addition, Eastern Company discovered that it had drawn and erroneously recorded a check for P46,000 that should have been recorded for P64,000. What is the cash balance per ledger on December 31?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![4) Eastern Company's bank statement for the month of December included the following information:
Ending balance
Bank service charge for December
Interest paid by the bank to Eastern for December
2,800,000
12,000
10,000
In comparing the bank statement to its own cash records, Eastern Company found the following:
Deposits made but not yet recorded by the bank
Checks written and mailed but not yet recorded by bank
350,000
650,000
In addition, Eastern Company discovered that it had drawn and erroneously recorded a check for P46,000
that should have been recorded for P64,000. What is the cash balance per ledger on December 31?
A. 970,000
B. 610,000
C. 2,520,000
D. 2,500,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe239a8d2-4537-4a33-8602-28867e5c52b4%2F32ee579b-9aef-4bde-9f0f-cd95a863152b%2Fshxbwla_processed.png&w=3840&q=75)
Transcribed Image Text:4) Eastern Company's bank statement for the month of December included the following information:
Ending balance
Bank service charge for December
Interest paid by the bank to Eastern for December
2,800,000
12,000
10,000
In comparing the bank statement to its own cash records, Eastern Company found the following:
Deposits made but not yet recorded by the bank
Checks written and mailed but not yet recorded by bank
350,000
650,000
In addition, Eastern Company discovered that it had drawn and erroneously recorded a check for P46,000
that should have been recorded for P64,000. What is the cash balance per ledger on December 31?
A. 970,000
B. 610,000
C. 2,520,000
D. 2,500,000
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