What is the amount shown as cash

Reference no: EM132821956

Question - Cotton Company's check-book balance at December 31, 2013 was P180,000. In addition, Cotton held the following items in its safe on that date.

Check payable to Cotton dated January 2,2014 in payment of a sale made in December 2013, included in December 31 check book balance. P65,000

Check payable to Cotton deposited December 15, But returned by the bank on December 30 stamped "DAIF." 20,000

Check drawn on Cotton's account, payable to a vendor, dated and recorded on December 30 but not yet mailed to payee as of December 31, 2013. 15,000

REQUIRED - What is the amount shown as Cash on Cotton's December 31, 2013 statement of financial position?

Reference no: EM132821956

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