The following data pertaining to the cash transactions and bank account of ABC Company for May 2022 are available to you: Cash balance, per accounting records, May 31, 2022 - 51,582 Cash balance, per bank statement, May 31, 2022 - 95,874 Bank service charge for May - 327 Outstanding checks, May 31, 2022 - 20,184 Deposit of May 30 not recorded by bank until June 1 - 14,610 Debit memo for the cost of printed checks delivered by the bank; the charge has not been recorded in the accounting records - 375 Proceeds of bank loan on May 30, not recorded in the accounting records, net of interest of P900 - 17,100 Proceeds from a customer’s promissory note; principal amount P24,000, collected by the bank, taken up in the books with interest - 24,300 Check No. 1086 issued to a supplier entered in the accounting records as P6,300 but deducted in the bank statement at an erroneous amount of - 3,600 Stolen check lacking an authorized signature, deducted from ABC’s account by the bank in error - 2,400 Customer’s checks returned by the bank marked NSF, indicating that the customer’s balance was not adequate to cover the checks; no entry has been made in the accounting records to record the returned check - 2,280 The adjusted cash in bank balance of ABC COMPANY at May 31, 2022 is:
The following data pertaining to the cash transactions and bank account of ABC Company for May 2022 are available to you:
Cash balance, per accounting records, May 31, 2022 - 51,582
Cash balance, per bank statement, May 31, 2022 - 95,874
Bank service charge for May - 327
Outstanding checks, May 31, 2022 - 20,184
Deposit of May 30 not recorded by bank until June 1 - 14,610
Debit memo for the cost of printed checks delivered by the bank; the charge has not been recorded in the accounting records - 375
Proceeds of bank loan on May 30, not recorded in the accounting records, net of interest of P900 - 17,100
Proceeds from a customer’s promissory note; principal amount P24,000, collected by the bank, taken up in the books with interest - 24,300
Check No. 1086 issued to a supplier entered in the accounting records as P6,300 but deducted in the bank statement at an erroneous amount of - 3,600
Stolen check lacking an authorized signature, deducted from ABC’s account by the bank in error - 2,400
Customer’s checks returned by the bank marked NSF, indicating that the customer’s balance was not adequate to cover the checks; no entry has been made in the accounting records to record the returned check - 2,280
The adjusted cash in bank balance of ABC COMPANY at May 31, 2022 is:
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