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What the deposit in transit at the beginning of october is

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Reference no: EM132577752

The following were provided by Charm Company for the month of October

  • Total book debits for the month of October P785, 000
  • Total bank credits for the month of October P640, 000
  • Deposit in transit at October 30, P16, 000
  • October deposits for P29, 000 was recorded in the books as P92, 000
  • A deposit in October by Charm Company for P9, 000 was recorded by the bank in another account
  • Credit memo for the month of September, P60, 000 was recorded by Charm Company only in October.
  • Interest income for the month of October, P30, 000 has not been recorded in the books.

Question 1: The deposit in transit at the beginning of October is

Reference no: EM132577752

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