Rolex Company's bank statement for the month of March included the following information: Ending balance, March 31 P140,230 Bank Service charge for March 650 Interest paid by bank to Rolex for March 535 In comparing the bank statement to its own cash records, Rolex found the following: Deposits made but not yet recorded by the bank P18,445 Checks written and mailed but not yet recorded by the bank P32,650 In addition, Rolex discovered that it had erroeously recorded for a check for P230 that sould have been recorded as P320. Question: What is Rolex's adjusted cash balance at March 31? a. P140,115 b. P126,140 c. P125,025 d. P125,910
Rolex Company's bank statement for the month of March included the following information:
Ending balance, March 31 P140,230
Bank Service charge for March 650
Interest paid by bank to Rolex for March 535
In comparing the bank statement to its own cash records, Rolex found the following:
Deposits made but not yet recorded by the bank P18,445
Checks written and mailed but not yet recorded by the bank P32,650
In addition, Rolex discovered that it had erroeously recorded for a check for P230 that sould have been recorded as P320.
Question:
What is Rolex's adjusted cash balance at March 31?
a. P140,115
b. P126,140
c. P125,025
d. P125,910
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