The June 30, 2022 statement of financial position of Red Corporation shows a cash balance of P1,350,700. Included in the said amount were the following items: Petty cash fund (including expense receipts of P3,150)-P5,000; Sinking fund cash-P350,000; Payroll fund maintained with Metrobank- P275,000 ; Savings account at Banco de Oro-P120,800; Un-deposited collections P36,420; Cash in foreign bank (in equivalent pesos)-P72,000; Customer’s check on hand: Traveler’s check-P40,450; certified check-P17,120; customer’s check dated July 10, 2022, P26,450; 90-day BSP treasury bonds- P 150,000; 120-day BSP treasury bills-P250,000. What is the correct amount of cash and cash equivalents of Red Corporation at June 30, 2022?
The June 30, 2022 statement of financial position of Red Corporation shows a cash balance of P1,350,700.
Included in the said amount were the following items: Petty cash fund (including expense receipts of P3,150)-P5,000; Sinking fund cash-P350,000; Payroll fund maintained with Metrobank- P275,000 ; Savings account at Banco de Oro-P120,800; Un-deposited collections P36,420; Cash in foreign bank (in equivalent pesos)-P72,000; Customer’s check on hand: Traveler’s check-P40,450; certified check-P17,120; customer’s check dated July 10, 2022, P26,450; 90-day BSP treasury bonds- P 150,000; 120-day BSP treasury bills-P250,000.
What is the correct amount of cash and cash equivalents of Red Corporation at June 30, 2022?
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