At September 30, 2021, cash receipts and cash disbursements per general ledger Cash in Bank account of JAVA Company are P305, 000 and P240, 000, respectively. The bank statement for the same month indicates that only P302, 000 in deposits were received during the month and checks clearing the bank were P236, 000. The August 31, 2021 bank reconciliation showed deposits in transit of P95, 000. Outstanding checks at September 30, 2021 were P20, 000. How much were the deposits in transit at September 30, 2021?

Answer rating: 100% (QA)

Determine the amount of deposits in transit at September 30 2021 Given information Cash receipts per ... View the full answer