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What is the total amount that Mapa Company should report

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Reference no: EM132742376

Problem - The following information pertains to Mapa Company on December 31, 2020:

Correct cash balance in general checking account with BDO bank

P700,000

Overdraft in special checking account with Export bank

(25,000)

Cash accumulated in special fund that will be used for plant expansion

3,200,000

Cash surrender value

75,000

Cash travel advances in the hands of company salespersons

30,000

Currency and coins in petty cash fund (including un-replenished vouchers of P2,500)

10,000

Required - What is the total amount that Mapa Company should report as "cash" in the current assets section of the statement of financial position on December 31, 2020?

Reference no: EM132742376

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