I need the answer as soon as possible The cash balance of the bank for that day was 500,000, and anadvance was granted to the cashier of payments 150,000,note that the balance of receipts was 400,000 and thebalance of payments was 100,000, and the bank was not entitledto keep cash more than 250000, and the rest is transferred to theCentral Bank. What is the amount550000(1) O(b) 400,000 D(C) 700,000 0

The amount of closing cash balance in excess of250,000 shall be the amount transferred to central…

Answered: advance was granted to the cashier

Business

Accounting

advance was granted to the cashier

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

I need the answer as soon as possible

The cash balance of the bank for that day was 500,000, and an
advance was granted to the cashier of payments 150,000,
note that the balance of receipts was 400,000 and the
balance of payments was 100,000, and the bank was not entitled
to keep cash more than 250000, and the rest is transferred to the
Central Bank. What is the amount
550000(1) O
(b) 400,000 D
(C) 700,000 0

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