Reference no: EM132954654
Question - While checking the cash accounts of Samuel Company on December 31, 2020, you find the following information:
Balance per books P67,760
Balance in checking account (outstanding checks per books of P9,876) 65,323
Deposit in bank closed by BSP 16,000
Deposit in transit 12,345
Currency and coins P9,500
Petty cash fund (of which P450 is in the form of paid vouchers) 1,000
Bank charges not yet taken up in the books 58
Bond sinking fund 10,000
Receivables from employees 700
Book error in recording a check, the correct
Amount as paid by the bank is P890 instead of P980 as recorded in the books, or a difference of 90
Required - What is the correct cash in bank balance for Samuel Company on December 31, 2020?
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