MODULE 1

MODULE 1C
Proof of Cash

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Problem 1 – Proof of Cash (Without Book and Bank Errors)
Angel Company provided the following information during the month of November, 2024:

1. Cash Book for the month of November 2024:

CASH IN BANK – BPI CHECKING ACCOUNT NO. 12345
Date Transaction Check No. Receipts Disbursements Balance
2023
Nov. 1 Transfer from cash on hand 100,000 100,000
4 Check payment 101 5,000 95,000
6 Check payment 102 15,000 80,000
8 Check payment 103 40,000 40,000
8 Check payment 104 10,000 30,000
10 Check payment 105 30,000 0
14 Check payment 106 25,000 (25,000)
21 Cash deposit 50,000 25,000
27 Check deposit 10,000 35,000
28 Check payment 107 50,000 (15,000)
30 Cash deposit 80,000 65,000

2. The Bank statement for the month of November 2024 was received on December 5, 2024 and presented below:
CHECKING ACCOUNT NO. 12345 - ANNAPOLIS COMPANY
Date Transaction Check No. Withdrawal Deposits Balance
2024
Nov. 2 Cash Deposit 100,000 100,000
18 Check payment 104 10,000 90,000
20 Check payment 101 5,000 85,000
22 Check payment 106 25,000 60,000
27 Cash Deposit 50,000 110,000
29 Check Deposit 10,000 120,000
29 Check payment 103 40,000 80,000
29 CM No. 5 – Borrowing proceeds 28,200 108,200
30 DM No. 11 - Returned Check 10,000 98,200
30 DM No. 15 - Service Charge 1,000 97,200

Notes:
a) Credit Memo No. 5 dated November 29, 2024 represents net proceeds of 12% bank borrowings with a
term of six months.
b) Debit Memo No. 11 dated November 30, 2024 represents return of check deposit made on November 29,
2024 due to insufficiency of fund.
c) Debit Memo No. 15 dated November 30, 2024 represents cost of check book purchased.

Required:
1. Compute the total balances of the following for the month of November 2024:
a) Total book receipts
b) Total book disbursements
c) Total bank receipts
d) Total bank disbursements
2. Prepare the proof of cash of Angel Company for the month of November, 2024 using the adjusted balance
method.
3. Prepare the necessary adjusting journal entries at November 30, 2024.
4. What amount of Cash in bank – BPI Checking Account would be reported in the statement of financial position
as of November 30, 2024?
5. Prepare the proof of cash of Angel Company for November, 2024 using the bank to book balance method.
6. Prepare the proof of cash of Angel Company for November, 2024 using the book to bank balance method.

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SOLUTION:
1. Computation of the total balances of the following for the month of November 2024:
ANSWER:
a) Total book debits – P 240,000.
This represents the total cash receipts of the company’s cash general ledger.
b) Total book credits – P 175,000.
This represents the total cash disbursements of the company’s cash general ledger.
c) Total bank debits – P 91,000.
This represents the total cash disbursements, payments or withdrawals made by Angel Company from its
bank checking account which is a liability of the bank to Angel Company.
d) Total bank credits – P 188,200.
This represents the total cash receipts or deposits made by Angel Company to its bank checking account
which is a liability of the bank to Angel Company.

2. Proof of cash of Angel Company for the month of November, 2024 using the adjusted balance method.
ANSWER:
ANGEL COMPANY
Proof of Cash
For the month of November 2024

Beginning November Ending

Nov. 1 Receipts Disburse. Nov. 30
Unadjusted bank balances
Deposit in Transit:
November 30
Outstanding Checks:
November 30

Unadjusted book balances

CM – Proceeds of bank borrowings
November
DM – NSF Check
November
DM – Service Charge
November

3. The necessary adjusting journal entries at November 30, 2024.

ANSWER:
Date Nature of Adjusting Entry Account Names Debit Credit
2024
Nov. 30 AJE No. 1 - Proceeds of bank Cash in Bank 28,200
borrowing, net of interest paid in Prepaid Interest 1,800
advance. Notes Payable - BPI 30,000

30 AJE No. 2 – Customer’s NSF Check Accounts Receivable 10,000

returned in November. Cash in Bank 10,000

30 AJE No. 3 – Cost of checkbook Bank Service Charge 1,000

purchased in November. Cash in Bank 1,000

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4. The amount of Cash in bank – BPI Checking Account that would be reported in the statement of financial
position as of November 30, 2024 is the reconciled cash in bank balance of P 82,200.

5. Proof of cash of Angel Company for November, 2024 using the bank to book balance method.
ANSWER:
ANGEL COMPANY
Proof of Cash
For the month of November 2024

Beginning November Ending

Nov. 1 Receipts Disburse. Nov. 30
Unadjusted bank balances
Deposit in Transit:
November 30
Outstanding Checks:
November 30
CM – Proceeds of bank borrowings
November
DM – NSF Check
November
DM – Service Charge
November
Unadjusted book balances

6. Proof of cash of Angel Company for November, 2024 using the book to bank balance method.
ANSWER:
ANGEL COMPANY
Proof of Cash
For the month of November 2024

Beginning November Ending

Nov. 1 Receipts Disburse. Nov. 30
Unadjusted book balances
CM – Proceeds of bank borrowings
November
DM – NSF Check
November
DM – Service Charge
November
Deposit in Transit:
November 30
Outstanding Checks:
November 30
Unadjusted bank balances

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Problem 2 – Single Date Bank Reconciliation (Without Book and Bank Errors)
Using the same information in Problem 1, additional information was provided by Angel Company for the month of
December, 2024:

1. Cash Book for the month of December 2024:

CASH IN BANK – BPI CHECKING ACCOUNT NO. 12345

Date Transaction Check No. Receipts Disbursements Balance
2023
Dec. 1 Balance forwarded 65,000
5 AJE 1 – Proceeds of borrowing 28,200 93,200
5 AJE 2 – Customer’s NSF Check 10,000 83,200
5 AJE 3 – Cost of Checkbook 1,000 82,200
5 Cash deposit 20,000 102,200
6 Check deposit 5,000 107,200
7 Redeposit – returned check 10,000 117,200
10 Check payment 108 20,000 97,200
13 Cash deposit 60,000 157,200
14 Check payment 109 25,000 132,200
17 Check payment 110 30,000 102,200
20 Check deposit 10,000 112,200
22 Check payment 111 23,000 89,200
23 Cash deposit 30,000 119,200
27 Check payment 112 50,000 69,200

2. The Bank statement for the month of December 2024 was received on January 3, 2025 and presented below:
CHECKING ACCOUNT NO. 12345 - ANNAPOLIS COMPANY
Date Transaction Check No. Withdrawal Deposits Balance
2023
Dec. 1 Balance forwarded 97,200
1 Deposit 80,000 177,200
2 Check payment 102 15,000 162,200
6 Cash deposit 20,000 182,200
7 Check deposit 5,000 187,200
7 Check deposit – NSF Check 10,000 197,200
14 Cash deposit 60,000 257,200
16 Check payment 108 20,000 237,200
20 Check payment 110 30,000 207,200
21 Check deposit 10,000 217,200
22 DM No. 19 - Returned Check 3,000 214,200
23 Check deposit – Returned Check 3,000 217,200
28 Check payment 111 50,000 167,200
29 DM No. 21 – Payment of borrowing 10,000 157,200
30 CM No. 33 – Collection of NR 16,500 173,700

Notes:
a) Debit Memo No. 19 dated November 22, 2024 represents return of check deposit made on November 21,
2024 due to insufficiency of fund.
b) Debit Memo No. 21 dated December 29, 2024 represents partial payment of borrowing made in November.
c) Credit Memo No. 33 dated December 30, 2024 represents collection of customer’s notes receivable made
by bank, including interest income of P 1,500.

Required:
1. Compute the total balances of the following for the month of December 2024:
a) Total book debits
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 b) Total book credits
c) Total bank debits
d) Total bank credits
2. Prepare the proof of cash of Angel Company for December 2024 using the adjusted balance method.
3. Prepare the necessary adjusting journal entries at December 31, 2024.
4. What amount of Cash in bank – BPI Checking Account would be reported in the statement of financial
position as of December 31, 2024?

SOLUTION:
1. Compute the total balances of the following for the month of December 2024:
a) Total book debits – P 163,200
b) Total book credits – P 159,000
c) Total bank debits – P 128,000
d) Total bank credits – P 204,500

2. Proof of cash of Angel Company for December 2024 using the adjusted balance method.
ANSWER:
ANGEL COMPANY
Proof of Cash
For the month of December 2024

Beginning December Ending

Dec. 1 Receipts Disburse. Dec. 30
Unadjusted bank balances
Deposit in Transit:
November 30
December 31
Outstanding Checks:
November 30
December 31
Adjusted bank balances

Unadjusted book balances

CM – Proceeds of bank borrowings
November
CM – Collection of notes receivable
December
DM – NSF Check
Returned in November
Returned & redeposit in November
DM – Service Charge
November
December
DM – Partial payment of borrowings
December
Adjusted book balances

*Details of outstanding checks:

Check No. November December
102 15,000 -
105 30,000 30,000
107 50,000 50,000
109 25,000
111 23,000
Total 95,000 128,000

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3. Prepare the necessary adjusting journal entries at December 31, 2024.
ANSWER:
Date Nature of Adjusting Entry Account Names Debit Credit
2024
Dec. 31 AJE No. 1 – Collection of notes
receivable by bank, including
interest.

Dec. 31 AJE No. 2 – Partial payment of

November borrowing.

Dec. 31 AJE 3 – Recognition of interest

expense from prepaid interest (P
1,800 x 1/6)

4. What amount of Cash in bank – BPI Checking Account would be reported in the statement of financial
position as of December 31, 2024?
ANSWER:
The amount of Cash in bank – BPI Checking Account that would be reported in the statement of financial
position as of December 31, 2024 is P 75,700.

Problem 3 – Proof of Cash (Without Bank and Book Errors)

(Problem 3-6 from Intermediate Accounting Volume 1, 2022 Edition, by Valix, Peralta, and Valix
King Company showed the following information:

Cash in bank balance, March 31 200,000

Book credits for April 720,000
Book debits for April 800,000
Bank statement balance, March 31 330,000
Bank debits 530,000
Bank credits 700,000

Note collected by bank:

March 60,000
April 100,000

Service charge:
March 8,000
April 2,000

NSF check:
March 20,000
April 30,000

Deposit in transit:
March 31 80,000
April 30 220,000

Outstanding checks:
March 31 178,000
April 30 372,000

Required: Prepare a proof of cash for the month of April following the “book to bank” method. (MODIFIED)

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SOLUTION:
___________________________
________________________________
________________________________

April
March 31 Receipts Disbursements April 30
Unadjusted book balances
Notes collected by bank:
March
April
Service charge:
March
April
NSF Check:
March
April
Adjusted book balances

April
March 31 Receipts Disbursements April 30
Unadjusted bank balances
Deposit in transit:
March 31
April 30
Outstanding checks:
March 31
April 30
Adjusted bank balances

Problem 4 – Proof of Cash (With Bank and Book Errors)

(Problem 3-6 from Intermediate Accounting Volume 1, 2024 Edition, by Valix and Valix
Prince Company provided the following information:

Balance per book, August 31 2,000,000

Receipts per book for August 4,400,000
Disbursements per book for August 3,600,000
Balance per bank, August 31 1,860,000
Bank receipts for August 5,000,000
Bank disbursement for August 3,940,000
August collection of P 200,000 recorded by Prince Company as 20,000
August check in payment of account payable for P 600,000
recorded by Prince Company as 60,000
Deposit of Princes Company erroneously credited by the
bank to Prince Company 200,000
August check of Princess Company erroneously charged
by bank to Prince Company 400,000

NSF Check
July 100,000
August 50,000

Note collected by bank for Prince Company:

July 200,000
August 300,000

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 Deposit in transit:
July 31 600,000
August 31 480,000

Outstanding checks:
July 31 100,000
August 31 650,000
Required:
Prepare a proof of cash for the month of August following the “book to bank” method. (Modified)

SOLUTION:
_____________________________
__________________________________
__________________________________

August
July 31 Receipts Disbursements August 31
Unadjusted book balances
Book receipts error - understated
Computation:
Book disbursement error - understated
Computation:
Notes collected by bank:
July
August
NSF Check:
July
August
Adjusted book balances

August
July 31 Receipts Disbursements August 31
Unadjusted bank balances
Bank receipts error – overstated
For Princess Company deposit
Bank disbursement error - overstated
For Princess Company check
Deposit in transit:
July 31
August 31
Outstanding checks:
July 31
August 31
Adjusted bank balances

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Problem 5 – Proof of Cash (With Bank and Book Errors and Unusual Book Credit Entries)
(Problem 3-8 from Intermediate Accounting Volume 1, 2022 Edition, by Valix, Peralta, and Valix
Biden Company provided the following data for the months of November and December:

November 30 December 31
Cash in bank account balance 2,032,000 3,160,000
Bank statement balance 1,890,000 2,900,000
Bank debits 1,080,000
Bank credits ?
Book debits ?
Book credits 1,440,000
Outstanding checks 180,000 592,000
Deposit in transit 80,000 498,000
Check erroneously charged by bank against entity’s account and
corrected in subsequent month 40,000 50,000
Bank service charge 2,000 4,000
Note recorded as cash receipt by entity when placed with bank for
collection and note is actually collected by bank in subsequent
month and credited by bank to entity’s account in same month 200,000 300,0000
Required:
1. Prepare a four-column reconciliation showing adjusted balances.
SOLUTION:
______________________________
___________________________________
___________________________________

December
November 30 Receipts Disbursements December 31
Unadjusted book balances
Bank Service Charges
November
December
NR recorded as cash receipts when
placed with bank for collection;
actually collected in subsequent
month by bank
November
December
Adjusted book balances

December
November 30 Receipts Disbursements December 31
Unadjusted bank balances
Bank disbursement error - overstated
Other Company’s check
November
December
Deposit in transit:
November 30
December 31
Outstanding checks:
November 30
December 31
Adjusted bank balances

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2. Prepare one adjusting entry only on December 31.
SOLUTION:
Date Account Names Debit Credit
2024
Dec. 31

Problem 6 – Proof of Cash (With Bank and Book Errors and NSF Check cases) - ORIGINAL
The following data were provided to you by Ashley Company for the months of November and December:

1) The balances of cash in bank account in the general were P 50,000 on November 30 and P 100,000 on December
31. Total cash receipts for December per company’s records were P 350,000.
2) The balances per bank statement were P 75,000 on November 30 and P 85,000 on December 31. Total deposits
and credits per bank statement during December were P 320,000.
3) Deposit in transit at November 30 were P 25,000 and at December 31 were P 68,000.
4) Outstanding checks at November 30 were P 36,000 and at December 31 were P 52,000.
5) Collections of notes receivable by bank not recorded by the Ashley Company were P 20,000 in November and P
18,000 in December.
6) Bank service charges not recorded in Ashley’s accounting records amounted to P 1,000 in November and P 2,000
in December.
7) NSF checks returned by the bank, recorded as reduction of cash receipts, were as follows:
a) Returned by bank in November but recorded in December, P 5,000.
b) Returned by bank in December and recorded also in December, P 15,000.
c) Returned by bank in December but recorded in January next year, P 15,000.
Required:
1. Prepare a four-column reconciliation showing adjusted balances.
2. Prepare the necessary adjusting journal entries at December 31.
SOLUTION:
1. Prepare a four-column reconciliation showing adjusted balances.

______________________________
___________________________________
___________________________________

December
November 30 Receipts Disbursements December 31
Unadjusted book balances
Bank Service Charges
November
December
NSF Check returned by bank recorded
as reduction of cash receipts:
Returned in November but
recorded in December
Returned and recorded in December
Returned in December but recorded
in January next year
Notes Receivable collected by bank:
November
December
Adjusted book balances

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 December
November 30 Receipts Disbursements December 31
Unadjusted bank balances
Deposit in transit:
November 30
December 31
Outstanding checks:
November 30
December 31
Adjusted bank balances

2. Prepare the necessary adjusting journal entries at December 31.

SOLUTION:
Date Account Names Debit Credit
2024 (AJE 1)
Dec. 31

(AJE 2)
31

(AJE 3)
31

Problem 7 – Deposit in Transit Computation (ORIGINAL)

Complete the table below by computing the missing amount:

Case 1 Case 2 Case 3 Case 4

Deposit in transit, beginning 50,000 20,000 ? 20,000
Add: Deposit made by the company during
this current month 850,000 660,000 430,000 ?
Total deposits to be acknowledged by bank this month ? ? ? ?
Less: Deposits acknowledged by the bank this month 775,000 ? 425,000 385,000
Deposit in transit, ending ? 30,000 25,000 15,000

SOLUTION:
Case 1 Case 2 Case 3 Case 4
Deposit in transit, beginning 50,000 20,000 20,000
Add: Deposit made by the company during
this current month 850,000 660,000 430,000
Total deposits to be acknowledged by bank this month
Less: Deposits acknowledged by the bank this month 775,000 425,000 385,000
Deposit in transit, ending 30,000 25,000 15,000

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Problem 8 – Deposit in Transit Computation (ORIGINAL)
The following information are provided to you by Liam Company for March 2024:

Deposit in transit, February 28 45,000

Book debits during March:
Cash collections from customers during March 50,000
Check collections from customers during March 600,000
Proceeds of borrowings last February but recorded only in March 100,000
Collection of notes receivable by bank last February but recorded
only in March (interest income included is P 2,000) 32,000
Bank credits during March:
Cash deposits from March collection 50,000
Check deposits from March collection 565,000
Undeposited cash receipts on February 28 45,000
Collection of notes receivable of Liam during March, including
interest of P 1,500 26,500

Required:
Compute the deposit in transit at March 31, 2024.

SOLUTION:
Deposit in transit, February 28, 2024
Add: Deposits made by company during March
Cash collections from customers during March
Check collections from customers during March
Total deposits expected to be acknowledged by bank during March
Less: Deposits acknowledged by the bank during March
Cash deposits from March collection
Check deposits from March collection
Undeposited cash receipts on February 28
Deposit in transit, March 31, 2024

NOTES:

Problem 9 – Deposit in Transit Computation (ORIGINAL)

The following information are provided to you by Jerlo Company for April, 2024:

Deposit in transit, March 31 60,000

Total book debits during April were P 1,200,000 which included the following:
Proceeds of bank loan last March but recorded only in April 200,000
Collection of notes receivable by bank last March but recorded
only in April excluding interest income of P 1,000. 50,000
Total bank credits during April were P 950,000 which included the following:
Undeposited cash receipts during March 60,000
Collection of notes receivable by bank during April 65,000
Interest income on notes collected 2,000

Required:
Compute the deposit in transit at April 30, 2024.

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SOLUTION:
Deposit in transit, March 31, 2024
Add: Deposits made by the company during April
Total book debits during April
Less: Proceeds of bank loan last March but recorded only in April
Collection of notes receivable by bank last March
Interest income on notes receivable collected
Total deposits expected to be acknowledged by bank during April
Less: Deposits acknowledged by the bank during April
Total bank credits during April
Less: Collection of notes receivable by bank during April
Interest income on notes collected
Deposit in transit, April 30, 2024

NOTES:

Problem 10 – Outstanding Check Computation (ORIGINAL)

Complete the table below by computing the missing amount:

Case 1 Case 2 Case 3 Case 4

Outstanding check, beginning 80,000 40,000 ? 50,000
Add: Checks issued by the company during
this current month 920,000 685,000 520,000 ?
Total checks to be paid by the bank this month ? ? ? ?
Less: Check paid by the bank this month 795,000 ? 505,000 485,000
Outstanding checks, ending ? 45,000 35,000 45,000

SOLUTION:
Case 1 Case 2 Case 3 Case 4
Outstanding check, beginning 80,000 40,000 50,000
Add: Checks issued by the company during
this current month 920,000 685,000 520,000
Total checks to be paid by the bank this month
Less: Checks paid by the bank this month 795,000 505,000 485,000
Outstanding checks, ending 45,000 35,000 45,000

Problem 11 – Outstanding Check Computation (ORIGINAL)

Conrad Company provided you the following information for June, 2024:

Outstanding checks, May 31 27,000

Book credits during June consist of the following:
Checks issued in June for payment of accounts 532,000
Bank service charge of May but recorded only in June 3,000
Customer’s NSF check returned in May but recorded only in June 5,000
Payment of bank loan charged by bank in May but recorded only in June 25,000
Bank debits during June consist of the following:
Checks issued in June and paid in June 496,000
Outstanding checks at end of May 25,000
Various bank service charges for June transactions 4,000
Customer’s NSF check returned in June to Conrad Company 32,000
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Required: Compute the outstanding checks at June 30, 2024.

SOLUTION:
Outstanding checks, May 31, 2024
Add: Checks issued by the company during June:
Checks issued in June for payment of accounts
Total checks expected to be paid by the bank this month of June
Less: Checks actually paid by the bank this month of June
Checks issued in June and paid in June
Outstanding checks at end of May
Outstanding checks, June 30, 2024

NOTES:

Problem 12 – Outstanding Check Computation (ORIGINAL)

Mark Company provided you the following information for July, 2024:

Outstanding checks, June 30 32,000

Total book credits during July were P 864,000 and consisted of the following:
Bank service charge of June but recorded only in July 2,500
Customer’s NSF check returned in June but recorded only in July 8,000
Payment of bank loan charged by bank in June but recorded only in July 150,000
Interest expense on bank loan 3,500
Total bank debits during July were P 710,000 and consisted of the following:
Various bank service charges for July transactions 5,000
Customer’s NSF check returned in July to Mark Company 17,000

Required: Compute the outstanding checks at July 31, 2024.

SOLUTION:
Outstanding checks, June 30, 2024
Add: Checks issued by the company during July:
Total book credits during July
Less: Bank service charge of June but recorded only in July
Customer’s NSF check returned in June but recorded only in July
Payment of bank loan charged by bank in June but recorded only in July
Interest expense on bank loan
Total checks expected to be paid by the bank this month of July
Less: Checks actually paid by the bank this month of July
Total bank debits during July
Various bank service charges for July transactions
Customer’s NSF check returned in July to Mark Company
Outstanding checks, July 31, 2024

NOTES:

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Problem 13 – Proof of Cash with Various Missing Information
(Problem 8-15 from Applied Auditing 2017 Edition, by Asuncion, Ngina, Escala
In connection with your examination, the Seann Company presented to you the following information regarding
its Cash in Bank account for the month of June of the current year:

a) Balances per bank statements: May 31, P 1,250,000, and June 30, P 1,350,000.
b) Balances of cash in bank account in company’s books: May 31, P 1,251,000, and June 30, P 1,051,000.
c) Total charges in the bank statement during June were P 1,300,000.
d) Undeposited receipts were: May 31, P 200,000 and June 30, P 153,000.
e) Outstanding checks as of May 31, P 150,000.
f) Erroneous bank credits were: May 31, P 45,000, and June 30, P 17,000.
g) Erroneous bank charges were: May 31, P 20,000, and June 30, P 30,000.
h) Collections by bank not recorded by company were P 125,000 in May and P 150,000 in June.
i) NSF not entered in company’s books were: May 31, P 110,000 and June 30, P 75,000.
j) Customer’s check deposited in May amounting to P 21,000 was erroneously entered in the books as P 12,000.
Assume this was corrected in June.

Required:
A. Prepare proof of cash for June using the adjusted balance method.

_______________________
___________________________
____________________________

June
May 31 Receipts Disbursements June 30
Unadjusted book balances
Erroneous receipts in May - understated
Computation:
NSF Check:
May
June
Collection by bank:
May
June
Adjusted book balances

June
May 31 Receipts Disbursements June 30
Unadjusted bank balances
Deposit in transit:
May 31
June 30
Outstanding checks:
May 31
June 30
Erroneous bank credits – overstated
May 31
June 30
Erroneous bank charges - overstated
May 31
June 30
Adjusted bank balances

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B. Based on the above and the result of the audit, answer the following:
1. How much were the cash disbursements per books in June?
A. 1,365,000
B. 1,491,000
C. 1,500,000
D. 1,565,000

2. How much are the outstanding checks at the end of June?

A. 110,000
B. 330,000
C. 381,000
D. 390,000

3. How much is the adjusted cash balance as of May 30?

A. 1,257,000
B. 1,266,000
C. 1,275,000
D. 1,291,000

4. How much is the adjusted book disbursements for June?

A. 1,315,000
B. 1,381,000
C. 1,456,000
D. 1,465,000

5. How much is the adjusted cash balance as of June 30?

A. 1,126,000
B. 1,135,000
C. 1,276,000
D. 1,346,000

6. Which of the following adjusting entry would be made by the company at the end of June?
A. Bank service charge 75,000
Cash in Bank 75,000
Accounts Receivable 150,000
B. Cash in Bank 50,000
Accounts Receivable 75,000
Cash in Bank 125,000
C. Cash in Bank 84,000
Accounts Receivable 84,000
D. Cash in Bank 75,000
Accounts Receivable 75,000

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