Hechter Company's checkbook balance as of December 31,2020 was Php11,750,000. On the same date, Hechter had the following items on its safe, together with 18 blank checks: a. A Php70,000 check payable to Hechter Co., dated January 2,2021 that was included in the December 31 checkbook balance. b. A Php300,000 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, 2021.

Hechter Company's checkbook balance as of December 31,2020 was Php11,750,000. On the same date, Hechter had the following items on its safe, together with 18 blank checks: a. A Php70,000 check payable to Hechter Co., dated January 2,2021 that was included in the December 31 checkbook balance. b. A Php300,000 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, 2021.

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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