1. HIRO Company provided you its June bank statement for its PNB demand account. The beginning balance, total bank debits and total ban credits are P350,000, P2,800,000 and P2,850,000 respectively. Checks disbursed by the company last month that cleared this month totaled P250,000 while checks issued this month but still outstanding amount P350,000. Deposit in transit at the beginning and end of the month tot P200,000 and P350,000, respectively. The bank also returned P30,000 which it incorrectly charged against the HIRO bank account during Ma /hat is the correct cash receipts amount for the month?

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A:

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Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.