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Compute the correct balance in the cash account

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Problem - The cash account shows a balance of P45,000 before reconciliation. The bank statement does not include a deposit of 2,300 made on the last day of the month. The bank statement shows a collection by the bank of P940 and a customer's check for320 was returned because it was NSF. A customer's check for P450 was recorded on the books as P540 and a check written for 79 was recorded as 97. Compute the correct balance in the cash account?

Reference no: EM132797119

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