What is the correct cash receipts for the month? 6. Using the same information in the previous problem, what is the correct cash disbursements for the month?
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5. The book debits and credits of the Cash in Bank – DBO checking account of Gamma Corporation are P4,800,000 and P5,200,000, respectively. Its ending balance is P900,000. The prior month’s bank statement showed collection of company notes receivables by the bank in the amount of P500,000, a bank service charge of P20,000, and an NSF check debit of P200,000. This month’s bank statement included a transfer of P600,000 from a matured time deposit, P30,000 bank service charge, and an erroneous bank debit of P100,000 from a check issued by Gammo. What is the correct cash receipts for the month?
6. Using the same information in the previous problem, what is the correct cash disbursements for the month?
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