Happy Company is preparing its March 31 bank reconciliation. The following data are available: Per bank: February 28 balance - P859,500 March deposits reflected - P476,000 March checks reflected - P617,000 (erroneously includes a check drawn by Hoppi Company for P15,000) Note collected (including P2,000 interest) - P202,000 Service charge - P1,200 March 31 balance - P919,300 Per books: February 28 balance - P839,600 March receipts - P490,000 (includes a collection of P20,800 recorded erroneously. The correct amount of P28,000 was properly reflected in the bank statement) March 31 balance - P719,600 Additional data from the February 28 bank reconciliation: Deposits in transit - P18,200 Outstanding checks, P38,100 How much were the deposit in transit at March 31?
Happy Company is preparing its March 31 bank reconciliation. The following data are available:
Per bank:
February 28 balance - P859,500
March deposits reflected - P476,000
March checks reflected - P617,000 (erroneously includes a check drawn by Hoppi Company for P15,000)
Note collected (including P2,000 interest) - P202,000
Service charge - P1,200
March 31 balance - P919,300
Per books:
February 28 balance - P839,600
March receipts - P490,000 (includes a collection of P20,800 recorded erroneously. The correct amount of P28,000 was properly reflected in the bank statement)
March 31 balance - P719,600
Additional data from the February 28 bank reconciliation:
Deposits in transit - P18,200
Outstanding checks, P38,100
How much were the deposit in transit at March 31?
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