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EXERCISE 2-5 The statement of financial position of Mandela Company as of December 31, 2020 shows cash balance of P900,000. It was found to include
EXERCISE 2-5 The statement of financial position of Mandela Company as of December 31, 2020 shows cash balance of P900,000. It was found to include the following items: saad 199 COP 80,000 150,000 -OSSO Currencies and coins on handas 1910) soz old og WEB collection Notes receivable in the possession of a agency Customer's check, dated February 1, 2021, not yet presented to the bank doto gamis Osos delsgd Abgasanld45,000 Customer's checks returned by bank marked "NSF1qo2 bodo tudo 60,000 Postal money orders from clients Petty cash fund (includes vouchers worth P2,500 for transportation expenses) Porno 10,000 70,000 Mandela drew a check for P145,000 against its checking account last December 28, 2020 representing payment for a subscription contract. The said check was only delivered January 2 of the following year. What is the correct cash balance of Mandela Company as of December 31, 2020
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