The following information was included in the bank reconciliation for Phillip Company for October and November 2021: *Checks and charges recorded by bank in November, including a November service charge of P4,000 and NSF check of P20,000 - 550,000 *Service charge made by bank in October and recorded by depositor in November - 2,000 *Total credits to cash in all journals during November - 620,000 *Customer's NSF check returned in October and redeposited in November (no entry made by depositor in either October or November) - 40,000 *Outstanding checks on October 31, 2021 that cleared in November - 230,000 What is the amount of outstanding checks on November 30, 2021?

The following information was included in the bank reconciliation for Phillip Company for October and November 2021: Checks and charges recorded by bank in November, including a November service charge of P4,000 and NSF check of P20,000 - 550,000 Service charge made by bank in October and recorded by depositor in November - 2,000 Total credits to cash in all journals during November - 620,000 Customer's NSF check returned in October and redeposited in November (no entry made by depositor in either October or November) - 40,000 *Outstanding checks on October 31, 2021 that cleared in November - 230,000 What is the amount of outstanding checks on November 30, 2021?

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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