Reference no: EM132947851
Question - ABC Company shows the following information as of May 31 of the current year:
Cash balance per books 90,000
Cash balance per bank statement 283,000
Proceeds from bank loan 200,000
Customer NSF check, Php5,000 of which is redeposited during the month 20,000
Service charge 2,000
Interest from the bank loan charged by the bank 5,000
Outstanding checks, Php5,000 were outstanding since last month 50,000
Deposit in transit 30,000
Required - What the adjusted cash balance?