QUESTION

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Exercise 2 - 10 The cash account of Pistachio Co. showed a ledger balance of P158,794 on June 30. The bank statement on the same date showed a balance of P166,100. Upon comparing the bank statement with the cash records, the following facts were determined: a. June bank service charge was $P 1,000$. b. A bank memo stated that a note having a face value of $P 48,000$ and interest of $P 1,440 \mathrm{had}$ been collected on June 29 , and the bank had made a charge of $P 220$ on the collection. No entry had been made on Pistachio's books when the note was collected. c. Receipts for June 30 for $P 135,600$ were not deposited until July 2. d. Checks outstanding on June 30 totaled P85,442. e. The bank had charged Pistachio's account for a customer's uncollectible check amounting to P10,128. f. A customer's check for $尹 3,600$ had been entered as $尹 2,400$ in the cash receipts journal by Pistachio on June 15. g. Check No. 742 in the amount of $P 19,640$ had been entered in the cash journal as $P 16,760$, and Check No. 747 in the amount of $P 2,328$ had been entered as $P 23,380$. Both checks had been issued to pay for purchases of equipment. Prepare bank reconciliation statement.

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