Sapphire Company provided the following information for the month of December: Balance per bank statement December 31 Bank service charge for December Interest paid by bank to Sapphire Company for December Deposits made but not yet recorded by the bank Checks written but not yet recorded by the bank 2,800,000 12,000 10,000 350,000 650,000 The entity discovered that it had drawn and erroneously recorded a check for P46,000 that should have been recorded for P64,000. What is the cash balance per ledger on December 31? a. 2,500,000 b. 2,520,000 C. 2,540,000 d. 2,800,000 с.
Sapphire Company provided the following information for the month of December: Balance per bank statement December 31 Bank service charge for December Interest paid by bank to Sapphire Company for December Deposits made but not yet recorded by the bank Checks written but not yet recorded by the bank 2,800,000 12,000 10,000 350,000 650,000 The entity discovered that it had drawn and erroneously recorded a check for P46,000 that should have been recorded for P64,000. What is the cash balance per ledger on December 31? a. 2,500,000 b. 2,520,000 C. 2,540,000 d. 2,800,000 с.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:Sapphire Company provided the following information for
the month of December:
Balance per bank statement December 31
Bank service charge for December
Interest paid by bank to Sapphire Company for December
Deposits made but not yet recorded by the bank
Checks written but not yet recorded by the bank
2,800,000
12,000
10,000
350,000
650,000
The entity discovered that it had drawn and erroneously
recorded a check for P46,000 that should have been recorded
for P64,000.
What is the cash balance per ledger on December 31?
a. 2,500,000
b. 2,520,000
C. 2,540,000
d. 2,800,000
с.
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