b$.$ A P$300,000$ check payable to a supplier and drawn on Hechter Co$.\text{'}$s account that was dated and recorded December $31$ but not mailed until January $3,2021.$

What amount of cash should Hechter Co$.$ report on its December $31,2020$ statement of financial position?

EXERCISE $2-10$

The cash account of Pistachio Co$.$ showed a ledger balance of P$158,794$ on June $30.$ The bank statement on the same date showed a balance of $\backslash (\backslash$mathrm$\{$P$166,100\}\backslash ).$ Upon comparing the bank statement with the cash records, the following facts were determined:

a$.$ June bank service charge was $\backslash (\backslash$mathbf$\{$P $1,000.\}\backslash )$

b$.$ A bank memo stated that a note having a face value of $\backslash (\backslash$mathrm$\{$P$\}48,000\backslash )$ and interest of P$1,440$ had been collected on June $29,$ and the bank had made a charge of P$220$ on the collection. No entry had been made on Pistachio's books when the note was collected.

c$.$ Receipts for June $30$ for $\backslash (\backslash$mathbf$\{$P$\}135,600\backslash )$ were not deposited until July $2.$

d$.$ Checks outstanding on June $30$ totaled $\backslash ($ P $85,442\backslash ).$

e$.$ The bank had charged Pistachio's account for a customer's uncollectible check amounting to $\backslash (\backslash$mathbf$\{$P $10,128.\}\backslash )$

f$.$ A customer's check for $\backslash (\backslash$mathrm$\{$P$\}3,600\backslash )$ had been entered as $\backslash (\backslash$mathrm$\{$P$\}2,400\backslash )$ in the cash receipts journal by Pistachio on June $15.$

g$.$ Check No$.742$ in the amount of P$19,640$ had been entered in the cash journal as $\backslash (\backslash$mathrm$\{$P$\}16,760\backslash ),$ and Check No$.747$ in the amount of $\backslash (\backslash$mathrm$\{$P$\}2,328\backslash )$ had been entered as $\backslash (\backslash$mathbf$\{$P$\}23,380\backslash ).$ Both checks had been issued to pay for purchases of equipment.

Prepare bank reconciliation statement.