MDB Company provided the following data pertaining to the cash transactions and bank account for themonth of May:Cash balace pжт ассошіg гессиіCash balance per bank statementBank service chargeBank Debit MemoOutstanding checksDeposits made on May 30 and xot yet reflected in the bank statementCollections made by the bank from a custoner promissory note, the principalamount of Phps800,000 with interestCheck No. 1234 issued to a supplier entered in the accounting recond asPhp 1,719,0003,195,00010,0005,000685,000500,000810,00021,000P210,000 but deducted in the bank statement at an erroneous amount ofCustomer check returned by the bank marked as NSF. No entry has been madeto record the retumed checkWhat is the adjusted cash in bank?77,000

Solution: Bank reconciliation is prepared to reconcile the difference in balance as per bank and as…

MDB Company provided the following data pertaining to the cash transactious and bank account for the month of May: Cash baluce per accounting tecond Cash balance per bank statement Bank service charge Bank Debit Memo Outstanding checks Deposits made on May 30 and not yet reflected in the bank statement Collections made by the bank from a customer promissory note, the principal amount of Php800,000 with interest Check No. 1234 issued to a supplier entered in the accouating econl as Php 1,719,000 3,195,000 10,000 5,000 685,000 500,000 810,000 21,000 P210,000 but deducted in the bank statement at an erroneous amount of Customer check returned by the bank marked as NSF. No entry has been made to record the retumed check What is the adjusted cash in bank? 77,000