Cash on hand and in bank P2,500,000 Cash restricted for bonds payable due On June 30, 2020 1,000,000 Time Deposit 3,000,000 Savings deposit set aside for dividends Payable on March 31, 2020 500,000 * The cash in bank included a customer’s check of P50,000 outstanding for 16 months. * Check of P80,000 in payment of accounts payable was dated and recorded on December 31, 2019 but mailed to creditors on January 12, 2020. * Check of P20,000 dated January 31, 2020 in payment of accounts payable was recorded and mailed December 31, 2019. *The reporting period is the calendar year. The cash receipts journal was held open until January 15, 2020 during which time P 100,000 was collected and recorded on December 31, 2019. In the current assets section of SM’s December 31, 2019 balance sheet, the amount reported as cash and cash equivalents is __________
Cash on hand and in bank P2,500,000
Cash restricted for bonds payable due
On June 30, 2020 1,000,000
Time Deposit 3,000,000
Savings deposit set aside for dividends
Payable on March 31, 2020 500,000
* The cash in bank included a customer’s check of P50,000 outstanding for 16 months.
* Check of P80,000 in payment of accounts payable was dated and recorded on December
31, 2019 but mailed to creditors on January 12, 2020.
* Check of P20,000 dated January 31, 2020 in payment of accounts payable was recorded
and mailed December 31, 2019.
*The reporting period is the calendar year. The cash receipts journal was held open until
January 15, 2020 during which time P 100,000 was collected and recorded on December
31, 2019.
In the current assets section of SM’s December 31, 2019 balance sheet, the amount reported
as cash and cash equivalents is __________
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