January 1, 2012

JPIA Corporation, a depositor, opened at Filipino Bank a checking account amounting to P 100,000. JPIA Corp. deposited P 350,000 collections of customers accounts. On the same day also a customer, in lieu of cash payment, paid the bank P 50,000, as payment of his customers account to JPIA Corp. Filipino bank was authorized to collect the note. JPIA Corp. issued for payment the following checks: Check No. Date Payee 001 Jan. 15, 2012 Supplier T 002 Jan. 15, 2012 PLDT 003 Feb. 15, 2012 Supplier U 004 Jan. 15, 2012 Supplier V 005 Jan. 31, 2012 Supplier W

January 5, 2012

January 15, 2012

Amount P 30,000 5,000 100,000 10,000 25,000

January 20, 2012 January 25, 2012

Supplier T and PLDT encashed the check paid to them by JPIA Corp. Filipino Bank collected JPIA Corp.s notes receivable amounting to P 50,000 plus interest of P 500. The bank service charge is P 20. JPIA Corp. paid an account payable to supplier amounting to P 800. Check No.006 was drawn against Filipino Bank but was erroneously recorded by the companys cash clerk as P 8,000. The customer immediately presented the check to the bank for encashment. JPIA Corp. collected a P 10,000 check from an account customer. The check was deposited and later found by the bank to be without sufficient funds. Filipino Bank erroneously credited P 20,000 to JPIA Corp.s account. The amount represents collection of the notes that belongs to another corporation. Filipino Bank charges P 150 for safe deposit box rentals. JPIA Corp. collected P 60,000 from customers. The entire collection has been delivered for deposit and received by the bank on February 1, 2012. Also, the company recorded Check No. 005 payment to Supplier W as it falls due on January 31, 2012. Check No. 004 issued on January 15 was encashed by Supplier V on January 31, 2012 but Check No. 005 was not presented to the bank.

January 26, 2012

January 28, 2012

January 29, 2012

January 30, 2012 January 31, 2012

Date Jan. 1 Jan. 5 Jan. 20 Jan. 25 Jan. 26 Jan. 28 Jan. 29 Jan. 30 Jan. 31 EC- error correction

Check No.

Withdrawals

Deposits 100,000 350,000

001 002 15,456 006 45,789 NSF 88,908 SC NSF- not sufficient fund

30,000 5,000 50,480 800 10,000 150 10,000 OD- overdradt 10,000 CM 20,000 CM

RT-returned check

Balance 100,000 450,000 420,000 415,000 465,480 464, 480 464,680 464, 680 484,680 484,530 CM-credit memo DM-debit memo