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Leni Co. prepared the following bank reconciliation on June 30: Balance per bank P9,800,000; Deposit in transit P400,000; Outstanding checks P1,400,000; Balance per book P8,800,000.
Leni Co. prepared the following bank reconciliation on June 30: Balance per bank P9,800,000; Deposit in transit P400,000; Outstanding checks P1,400,000; Balance per book P8,800,000. There were total deposits of P6,500,000 and charges for disbursements of P9,000,000 for July per bank statement. All reconciliation items on June 30 cleared the bank on July 31. Checks outstanding amounted to P1,000,000 and deposits in transit totaled P1,200,000 on July 31. What is the amount of cash receipts per book in July?
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