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3. The cash account in the ledger of Pat Company had a balance of P 844,800 as at December 31, 2018. An examinaiton of the

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3. The cash account in the ledger of Pat Company had a balance of P 844,800 as at December 31, 2018. An examinaiton of the account however, disclosed the following: 1. The sales book was left open up to January 5, 2019 and cash sales totaling P 120,000 were conisdered as sales in December 2. Checks of P 74,400 in payment of liabilities were prepared before December 31, 2018, recorded in the books but not mailed or delivered to the payees 3. Postdated checks totaling P 62,400 are being held by the cashier as part of Cash. The company's experience shows that postdated checks are ventually realized 4. Customer's check for P 12,000 deposited with but returned by bank "NSF" on December 27, 2018. 5. The Cash account includes P 320,000 earmarked for the purchase of personal computers which will soon be delivered. Required: Compute the cash balance that should be reflected at the Statement of Financial Position as at December 31, 2018

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