ollowing information is available for the Awesome Company on March 31, 2021: Bank statement balance, March 31 - P146,570 Note collectedly bank, including interest of P2,500, not yet taken up in the books - P62,500 NSF check returned with the bank statement - P21,260 Outstanding checks as of March 31 - P68,740 Bank service charges for March - P1,285 Credit memo for interest credited by bank for the month of March - P105 What is the correct cash balance at March 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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The following information is available for the Awesome Company on March 31, 2021:

Bank statement balance, March 31 - P146,570

Note collectedly bank, including interest of P2,500, not yet taken up in the books - P62,500

NSF check returned with the bank statement - P21,260

Outstanding checks as of March 31 - P68,740

Bank service charges for March - P1,285

Credit memo for interest credited by bank for the month of March - P105

What is the correct cash balance at March 31?

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