Reference no: EM133010287
Question - Reconciliation of Gonzales Company's bank account at May 31 of the current year is: Balance per bank statement 2,600,000 Deposit outstanding 300,000 Checks outstanding (100,000) Correct cash balance 2,800,000 Balance per book 2,810,000 Bank service charge (10,000) Correct cash balance 2,800,000 June data as follows:
Bank Book
Checks recorded 2,200,000 2,500,000
Deposits recorded 1,600,000 1,800,000
Service charges recorded 60,000
Collection by bank, P500, 000 note plus interest 550,000 NSF check returned with June 30 statements (will be re-deposited) 100,000 Balances 2,400,000 2,100,000
What is the cash in the bank that should be reported in the statement of financial position on June 30?
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