Problem 1: Grain company’s general ledger showed a balance a P2,205,600 in its “Cash”

Problem 1: Grain company's general ledger showed a balance a P2,205,600 in its “Cash” account on December 31, 2019. Included in this balance are the following items: DAIF checks returned by bank Savings account IOUS Postage stamps Bank draft Cash on hand Cash in sinking fund Customers' checks dated January 2020 Travelers advances Traveler's checks 20,000 750,000 1,200 600 10,000 30,000 500,000 5.400 4,000 8,000 Determine total amount that chould be included in cash balance at December 31, 2019

 

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