Branch A P21,000 2,000 Branch
Use Selected balances from Company’s Branch A and B are as follows: (see image below) All sales, collections, and expenses are handled at the branch. All cash received from sales and collections are sent directly to the Home Office. Expenses are paid by the branch from the imprest fund and immediately reimbursed by the Home Office and credited to the Home Office account. All expenses paid by the branch are recorded in the books of the branch. Compute the balance of the Home Office account on January 1, 2021 in the books of
a. Branch A
b. Branch B