Reference no: EM132779942
Question: The following information was included in the bank reconciliation for Ryan, Inc. for June. Assume all other reconciling items are listed.
Checks and charges recorded by bank in June, including a June service charge of P600 P344,200
Service Charge made by bank in May and recorded in the books in June P400
Total of credits to Cash in all journals during June P396,040
Customer's NSF check returned as a bank charge in June (no entry made on books) P2,000
Customer's NSF check returned in May and redeposited in June (no entry made on books in either May or June) P5,000
Outstanding checks at June 30 P265,200
Deposits in transit at June 30 P12,000
What was the total of outstanding checks at the beginning of June?