Sapphire Company provided the following information for the month of December 31: Balance per bank statement December 31 2,800,000 Bank service charge for December 12,000 Interest paid by bank to Sapphire Company for December 10,000 Deposits made but not yet recorded by the bank 350,000 Checks written but not yet recorded by the bank 650,000 The entity discovered that it had drawn and erroneously recorded a check for P46,000 that should have been recorded for P64,000. What is the cash balance per ledger on December 31? a.P2,500,000 b.P2,520,000 c.P2,540,000 d.P2,800,000
Sapphire Company provided the following information for the month of December 31: Balance per bank statement December 31 2,800,000 Bank service charge for December 12,000 Interest paid by bank to Sapphire Company for December 10,000 Deposits made but not yet recorded by the bank 350,000 Checks written but not yet recorded by the bank 650,000 The entity discovered that it had drawn and erroneously recorded a check for P46,000 that should have been recorded for P64,000. What is the cash balance per ledger on December 31? a.P2,500,000 b.P2,520,000 c.P2,540,000 d.P2,800,000
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter5: Cash Control Systems
Section: Chapter Questions
Problem 2AP
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Sapphire Company provided the following information for the month of December 31:
Balance per bank statement December 31 2,800,000Bank service charge for December 12,000
Interest paid by bank to Sapphire Company for December 10,000
Deposits made but not yet recorded by the bank 350,000
Checks written but not yet recorded by the bank 650,000
The entity discovered that it had drawn and erroneously recorded a check for P46,000 that should have been recorded for P64,000.
What is the cash balance per ledger on December 31?
a.P2,500,000
b.P2,520,000
c.P2,540,000
d.P2,800,000
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