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Hechter Company's checkbook balance as of December 31, 2019 was P1,750,000. On the same date, Hechter had the following items on its safe: a. A
Hechter Company's checkbook balance as of December 31, 2019 was P1,750,000. On the same date, Hechter had the following items on its safe: a. A P40,000 check payable to Hechter Co., deposited December 18 and included in the December 31 checkbook balance that was returned by the bank on December 27 marked "NSF". The check was redeposited December 28 and cleared December 29. b. A P70,000 check payable to Hechter Co., dated January 2, 2020 that was included in the December 31 checkbook balance. c. There were 18 blank check forms. d. A P300,000 check payable to a supplier and drawn on Hechter Co.'s account that was dated and recorded December 31 but not mailed until January 3, 2020. The name, username and photo associated with your Google account will be recorded when you upload files and submit this form. What amount of cash should Hechter Co. report on its December 31, 2019 statement of financial position
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