The Corporation, showed a cash balance per books of P120,655 on November 30, 2021. Upon preparing the bank reconciliation statement for the month of November, the accountant made the following compound journal entry to adjust the balance of cash to its correct balance. Dr. Cash in bank- P6,273 Dr. Accounts Receivable- P15,202 Dr. Miscellaneous Expense- P125 Cr. Notes Receivable -P20,000 Cr. Interest Revenue- P1,600 There were outstanding checks and undeposited collections amounting to P15,075 and P9,280, respectively on November 30. What was the bank statement balance on November 30, 2021?
The Corporation, showed a cash balance per books of P120,655 on November 30, 2021. Upon preparing the bank reconciliation statement for the month of November, the accountant made the following compound journal entry to adjust the balance of cash to its correct balance. Dr. Cash in bank- P6,273 Dr. Accounts Receivable- P15,202 Dr. Miscellaneous Expense- P125 Cr. Notes Receivable -P20,000 Cr. Interest Revenue- P1,600 There were outstanding checks and undeposited collections amounting to P15,075 and P9,280, respectively on November 30. What was the bank statement balance on November 30, 2021?
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter8: Internal Control And Cash
Section: Chapter Questions
Problem 21E
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The Corporation, showed a cash balance per books of P120,655 on November 30, 2021. Upon preparing the
Dr. Cash in bank- P6,273
Dr. Accounts Receivable- P15,202
Dr. Miscellaneous Expense- P125
Cr. Notes Receivable -P20,000
Cr. Interest Revenue- P1,600
There were outstanding checks and undeposited collections amounting to P15,075 and P9,280, respectively on November 30. What was the bank statement balance on November 30, 2021?
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