ABC Corp had a cash balance of P500,000 in its books at Dec 31. The following are additional information for the entity: Cash in BDO, P200,000 (compensating balance of P50,000 is legally restricted) Cash in BPI, (P2,000) deducted from the balance Cash on hand, P10,000 (includes post dated check of P6,000) Petty Cash Fund, P5,000 (includes petty cash voucher of P1,500) How much is the correct cash balance at Dec 31? 442,500 444,500 450,500 500,000

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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.