Information pertaining to 67 company appears below Balance per ledger, July 31                                                          P 650,000 Balance per bank statement July 31                                              1.240.000 Deposit in transit                                                                           280,000 debit memo - service charges                                                          10,000 credit memo collection of notes receivables by bank of 67 company  300,000 Oustanding checks                                                                                  ? check for purchase supplies was drawn for P60,000 but was recorded as 90,000  what is the amount of outstanding checks on July 31?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Information pertaining to 67 company appears below

Balance per ledger, July 31                                                          P 650,000
Balance per bank statement July 31                                              1.240.000
Deposit in transit                                                                           280,000
debit memo - service charges                                                          10,000
credit memo collection of notes receivables by bank of 67 company  300,000
Oustanding checks                                                                                  ?

check for purchase supplies was drawn for P60,000 but was recorded as 90,000 


what is the amount of outstanding checks on July 31?

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