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On July 31, 2020, the Cash in Bank account of Laban Grado Company had a balance of P72,166. On that date, the bank statement indicated
On July 31, 2020, the Cash in Bank account of Laban Grado Company had a balance of P72,166. On that date, the bank statement indicated a balance of P95,347.50. Comparison of returned checks and bank memos revealed the following: 1. Deposits in transit as of July 31 amounted to P31,407.50. 2. Outstanding checks as of July 31 totaled P14,679. 3. The bank erroneously charged a P3,250 check of Bangon Grado Company against Laban Grado Company bank account. 4. AP250 bank service charge has not yet been recorded in the books. 5. Laban Grado Company neglected to record P40,000 borrowed from the bank on a 10% six-month note. The bank staternent has already credited the P40,000. 6. Included with the paid checks is a memo indicating that a customer's check for P6,400 had been returned due to insufficient funds. 7. Laban Grado Company recorded P1,090 payment for repairs as P10,900. What is the amount of the adjusted cash balance
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