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What is the correct cash on hand balance for Arrow Company

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Question - The following information pertains to the cash account of Arrow Corporation on December 31, 2018:

Balances per book 67,750

Balance in checking account (outstanding checks, PP9,876) 65,323

Deposit in bank closed by BSP 16,000

Deposit in transit 12,345

Currency and coins counted 9,600

Petty cash fund (P500 in the form of paid vouchers) 1,000

Bank service charge 100

Bond sinking fund-cash 10,000

Check disbursement paid by the bank P980, but recorded in the company's journal in error as 890

Required - What is the correct cash on hand balance for Arrow Company on December 31, 2018?

Reference no: EM132866953

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