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What the deposit in transit at june is

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Reference no: EM132694617

The following were provided by Bunny Company for the month of June

  • Deposits and credit memos recorded by the bank in June, including interest of P9,000; P970,000
  • Total debits ti Cash in all journals during June, P960,000
  • Deposit in transit as of May 31, P120,000
  • Interest income reflected in the May bank statement, recorded only in the books in June, P200,000
  • Direct payment to the bank by Bunny Company's customers. Bunny company was not informed of the said payment as of June 30, P80,000

Problem 1: The deposit in transit at June 30 is

Reference no: EM132694617

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