The following data was available from OPZ Corporation's books: 2021 Purchases Sales January February P 42,000 48,000 P 72,000 66,000 March 36,000 60,000 April 54,000 78,000 Collections from customers are normally 70% in the month of sale, 20% in the month following the sale, and 9% in the second month following the sale and the balance is uncollectible. OPZ takes full advantage of the 2% discount allowed on purchases paid for by the tenth of the following month. Purchases for May are budgeted at P60,000, while sales for May are forecasted at P66,000. Cash disbursements for expenses are expected to be P14,000 for the month of May. OPZ's cash balance at May 1 was P22,000.

The LLYOD bank statement for the month of June shows that there is $13,300 difference with the cash balance per book. The difference occurs on the 12 of June as one of the customers’ outstanding check has been returned because of not sufficient fund. Record the required entries at the end of June.

The bookkeeper at Hopkins Company has not reconciled the bank statement with the cash account, saying instead, "I don't have time." You have been asked to prepare a reconciliation and review the procedures with the bookkeeper. The April 30, current year, bank statement and the April ledger accounts for cash showed the following (summarized): Balance, March 31, current year Deposits during April Notes collected for company (including $83 interest) Cheques cleared during April NSF cheque-A. B. Wright Bank service charges Balance, April 30, current year Mar. 31 Balance Apr. Deposits Bank Statement Apr. 30 Balance Cash in Bank 24,800 43,450 Apr. Cheques written Cash on Hand 230 Cheques Deposits Balance $33,600 71,000 72,310 26,510 26,337 26, 254 26,254 $45,800 173 83 $ 37,400 1,310 42,400 A comparison of cheques written before and during April with the cheques cleared through the bank showed that cheques of $5,400 are still outstanding at April 30. No deposits in transit were carried over…

E47.

Get the Answer with Correct option

What is George's monthly cash flow? (include negative sign if needed)