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What the correct balance of cash at may is

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Reference no: EM132817544

In preparing its May 31, 2020 bank reconciliation, Catt Co. has the following information available:

Balance per bank statement, 5/31/2020         30,000

Deposit in transit, 5/31/2020                         5,400

Outstanding checks, 5/31/20202                    4,900

Note collected by bank in May                        1,250

Problem 1: The correct balance of cash at May 31, 2020 is?

a. P35,400

b. P29,250

c. P30,500

d. P31,750

Reference no: EM132817544

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