Reference no: EM132727188
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: What The deposit in transit at June 30 is
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