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How much is the deposit in transit at the end of november

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Problem 1: In reconciling the Cash in bank balance of Cadbury Company with the bank statement for the month of November 2022, the following data are summarized: Book debits for November, P800,000, including credit memo for notes collected last October, P60,000; Book credits for November, P620,000, including NSF check of P20,000 and service charge of P1,000 for October; Bank credits for November, P700,000, including credit memo for the bank loan of P100,000 and October deposit in transit for P80,000; Bank debits for November, P600,000, including outstanding checks of P170,800 and November service charge of P1,200. How much is the deposit in transit at the end of November?

A. P340,000

B. P220,000

C. P100,000

D. P40,000

 

Reference no: EM132950630

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