Choose the letter of the correct answer: Sassy Company provided the following data for the month of July: Cash in bank: *Balance June 30 - 1,000,000; *Book debits for July including June CM for note collected, P300,000 - 4,000,000; *Book credits for July including NSF of P100,000 and service charge of P4,000 - 3,600,000. Bank statement for July: *Balance June 30 - 1,650,000; *Bank debits for July including service charge of P1,000 and June outstanding checks of P854,000 - 2,500,000; *Bank credits for July including CM for bank loan of P500,000 and June deposit in transit of P400,000 - 3,500,000. Compute for the deposit in transit on July 31: a.1,100,000 b.1,800,000 c.2,800,000 d.1,600,000
Choose the letter of the correct answer:
Sassy Company provided the following data for the month of July:
Cash in bank:
*Balance June 30 - 1,000,000;
*Book debits for July including June CM for note collected, P300,000 - 4,000,000;
*Book credits for July including NSF of P100,000 and service charge of P4,000 - 3,600,000.
Bank statement for July:
*Balance June 30 - 1,650,000;
*Bank debits for July including service charge of P1,000 and June outstanding checks of P854,000 - 2,500,000;
*Bank credits for July including CM for bank loan of P500,000 and June deposit in transit of P400,000 - 3,500,000.
Compute for the deposit in transit on July 31:
a.1,100,000
b.1,800,000
c.2,800,000
d.1,600,000
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