Reference no: EM132894372

ABC Company shows the following information as of May 31 of the current year:

Cash balance per books 90,000

Cash balance per bank statement 283,000

Proceeds from bank loan 200,000

Customer NSF check, Php5,000 of which is redeposited during the month 20,000 Service charge 2,000

Interest from the bank loan charged by the bank 5,000

Outstanding checks, Php5,000 were outstanding since last month 50,000 Deposit in transit 30,000

Problem 1: The adjusted cash balance amounted to -

Option 1: 263,000

Option 2: 233,000

Option 3: 313,000

Option 4: 283,000