Tacurong Organic Farm received P69.595, from Amanda as payment for the merchandise she purchased. The bookkeeper recorded the amount as P9,695. Book. P60,000 will be added to the books. Bank. P69,696 will be added to the bank records. Bank. P60,000 will be added to the bank records. Book. P69,696 will be added to the books. Three Network Bank collected from the customer of Tacurong Organic Farm the sum of P85,387 representing payment of the said customer to Tacurong Organic Farm. No entry was made in the books of Tasurong Organic Farm. Bank. P85,387 will be added to the bank records. No adjustments will be made.

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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Tacurong Organic Farm received P69,596, from Amanda as payment for the merchandise she purchased.
The bookkeeper recorded the amount as P9,696.
Book. P60,000 will be added to the books.
Bank. P69,696 will be added to the bank records.
Bank. P60,000 will be added to the bank records.
Book. P69,696 will be added to the books.
Three Network Bank collected from the customer of Tacurong Organic Farm the sum of P85,387
representing payment of the said customer to Tacurong Organic Farm. No entry was made in the books
of Tacurong Organic Farm.
Bank. P85,387 will be added to the bank records.
No adjustments will be made.
Book. P85,387 will be deducted to the books.
Book. P85,387 will be added to the books.
The bank teller of Three Network Bank deducted check no.397 for P81,810.08 from the account of
Tacurong Organic Farm. The said check was issued by Tacurong Native Farm, a different depositor of the
bank.
Books. P81,810.08 will be deducted to the books.
Bank. P81,810.08 will be added to the bank records.
Book. P81,810.08 will be added to the books.
Bank. P81,810.08 will be deducted to the bank records.
Transcribed Image Text:Tacurong Organic Farm received P69,596, from Amanda as payment for the merchandise she purchased. The bookkeeper recorded the amount as P9,696. Book. P60,000 will be added to the books. Bank. P69,696 will be added to the bank records. Bank. P60,000 will be added to the bank records. Book. P69,696 will be added to the books. Three Network Bank collected from the customer of Tacurong Organic Farm the sum of P85,387 representing payment of the said customer to Tacurong Organic Farm. No entry was made in the books of Tacurong Organic Farm. Bank. P85,387 will be added to the bank records. No adjustments will be made. Book. P85,387 will be deducted to the books. Book. P85,387 will be added to the books. The bank teller of Three Network Bank deducted check no.397 for P81,810.08 from the account of Tacurong Organic Farm. The said check was issued by Tacurong Native Farm, a different depositor of the bank. Books. P81,810.08 will be deducted to the books. Bank. P81,810.08 will be added to the bank records. Book. P81,810.08 will be added to the books. Bank. P81,810.08 will be deducted to the bank records.
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