Reference no: EM132761805

Problem - Salme Company's bank statement for the month of March 2020, included the following information:

Ending balance, March 31 P280,460

Bank service charge for March 1,300

Interest paid by bank to Corona for March 1,070

In comparing the bank statement to its own cash records, Corona found the following:

Deposits made but not yet recorded by the bank P36,890

Checks written and mailed but not yet recorded by the bank 47,860

In addition, Corona discovered that it had erroneously recorded a check for P460 that should have been recorded for P 640.

Required - What is Salme's correct cash balance at March 31, 2020?