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How much is correct balance of cash and cash equivalents

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Problem 1: BSA Company reported cash and cash equivalents at P1,300,000. In the notes to financial statement, Cash on hand, P366,000; Petty Cash fund P87,000; Cash in Bank A, 322,000; 180-day time deposit due next month, P250,000 and 5-year BSP treasury bills acquired 61 days before maturity, P275,000. How much is correct balance of cash and cash equivalents?

Option 1: P1,025,000

Option 2: P1,300,000

Option 3: P1,050,000

Option 4: P775,000

Reference no: EM132822572

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