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How much is the deposit in transit

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Problem 1: During the year, the bank reported credits of P10,000,000. Included in it is deposit in transit for the previous month of P1,000,000, note collection with interest of P510,000, bank loan proceeds of P2,850,000, and an adjustment of an error of a check belonging to another client of P500,000. The book debits amounted to P6,800,000 net of all adjustments for the previous month. How much is the deposit in transit?

Reference no: EM132810212

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