ndie Company had the following account balances at December 31, 2021: Cash in Metrobank (includes P300,000 of compensating balance against short term borrowing arrangements. The compensating balance is not legally restricted as to withdrawal by Indie Company) - P1,875,000 Cash in BPI - P180,000 Cash on hand (includes a customers check for P15,000 dated January 5, 2022) - P125,000 Cash restricted for acquisition of machinery (expected to be disbursed in 2022) - P1,600,000 How much is the total cash reported in the current asset section of Indie Company's December 31, 2021 statement of financial position?
ndie Company had the following account balances at December 31, 2021: Cash in Metrobank (includes P300,000 of compensating balance against short term borrowing arrangements. The compensating balance is not legally restricted as to withdrawal by Indie Company) - P1,875,000 Cash in BPI - P180,000 Cash on hand (includes a customers check for P15,000 dated January 5, 2022) - P125,000 Cash restricted for acquisition of machinery (expected to be disbursed in 2022) - P1,600,000 How much is the total cash reported in the current asset section of Indie Company's December 31, 2021 statement of financial position?
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 26Q: A customer was unable to pay the accounts receivable on time in the amount of $34,000. The customer...
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Indie Company had the following account balances at December 31, 2021:
Cash in Metrobank (includes P300,000 of compensating balance against short term borrowing arrangements. The compensating balance is not legally restricted as to withdrawal by Indie Company) - P1,875,000
Cash in BPI - P180,000
Cash on hand (includes a customers check for P15,000 dated January 5, 2022) - P125,000
Cash restricted for acquisition of machinery (expected to be disbursed in 2022) - P1,600,000
How much is the total cash reported in the current asset section of Indie Company's December 31, 2021
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