Problem 3

Use the following data:

Balance per ledger 770,000

Balance per bank 510,000

Undeposited collections for December 31, 2020 110,000

Deposit made at the night deposit of the bank 75,000

Outstanding checks 120,000

Bank service charges for December 2020 5,000

Loan amortization automatically debited from account by bank 200,000

Interest on bank loan debited from account by bank 10,000

Collection by bank of accounts receivable on behalf of company 60,000

NSF Checks returned by bank 50,000

Bank recorded a deposit of P75,000 at 85,000

Problem 3. Compute for the adjusted Cash and Cash Equivalents (5 points). Email the photo/s to me. Then, answer the following:

11. How much is the adjustment to cash? DEBIT XXX or CREDIT XXX.*

12. How much is the adjustment to cash equivalents? DEBIT XXX or CREDIT XXX.*

13. How much is the adjusted Cash and Cash Equivalents?*