Reference no: EM132761795

Problem - Alpha Corporation's bank statement for the month of April included the following information:

Bank service charge for April P1,300

Check deposited by Alpha during April was not collectible and has been marked "NSF" by the bank and returned 4,000

In comparing the bank statement to its own cash account, Alpha found the following:

Deposits made but not yet recorded by the bank P13,240

Checks written and mailed but not yet recorded by the bank 9,870

All the deposits in transit and outstanding checks have been properly recorded in Alpha's books. Alpha also found a check for P3,500, payable to Alpha Corporation, that had not yet been deposited and had not been recorded in Alpha's books. Alpha's books show a bank account balance of P41,120 (before any adjustments or corrections).

Required - What is Alpha Corporation's correct cash balance at April 30?