Reference no: EM132906896
Problem - Wealth Company had the following bank reconciliation at March 31, 2018:
Balance per bank statement, Marc 31, 2014 46,500
Add: Deposit in transit 10,300
Total 56,800
Less: Oustanding checks 12,600
Balance per book, March 31, 2018 44,200
The bank statement for April, 2018 shows deposits acknowledged by the bank amounting to P58,400 and checks paid amounting to P49,700.
All reconciliation items at March 31, 2018 cleared through the bank in April. Outstanding checks at April 30, 2018 totaled P7,500.
Required - How much is the adjusted cash disbursements in April?