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1. The adjusted petty cash fund on December 31, 2019 is P10,250. Various expenses and an employee cash advance totaling P19,750 were deducted from the original petty cash fund of P30,000. 2. The adjusted Cash in bank - SM Bank balance on December 31, 2019 is P432,710. This takes into account deposits in transit, outstanding checks, and a bank error adjustment. 3. The entry to adjust the Cash in bank - SM Bank account should include a debit to Accounts receivable for P89,800 for returned and postdated ch
- Author
- Camille Madlangbayan
- Language
- EN