The following cash transactions occurred during the month of May: 青 Collection from customers: P50,000 in cash and P150,000 in checks. Payments for various expenses, P20,000 in cash and P10,000 in checks. Deposits to the bank P10,000 in cash, P100,000 in checks. What was the balance of the cash in bank account? O P140,000 P240,000 P100,000 O P110,000

The following cash transactions occurred during the month of May: 青 Collection from customers: P50,000 in cash and P150,000 in checks. Payments for various expenses, P20,000 in cash and P10,000 in checks. Deposits to the bank P10,000 in cash, P100,000 in checks. What was the balance of the cash in bank account? O P140,000 P240,000 P100,000 O P110,000

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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