Reference no: EM132894370
ABC Company shows the following information as of May 31 of the current year:
Total check disbursements per books 1,000,000
Total check disbursements per banks 950,000
Outstanding checks last month, Php10,000 still outstanding this month 120,000
The bank charged ABC Company for a CBA Company check amounting to Php20,000.
The disbursements recorded by the company accountant included the following:
Check dated May 28, delivered on June 5 10,000
Check delivered on May 28, dated June 5 15,000
Question 1: How much is the total outstanding checks at May 31 of the current year?
Option 1: 205,000
Option 2: 215,000
Option 3: 235,000
Option 4: 190,000
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