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?
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?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
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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