Extracted text: BSA Company prepared the November 30, 2020 bank reconciliation as follows: Balance per bank statement P1,500,000 200.000 P1,700,000 450,000 P1,250.000 Add: Deposit in transit Total Less: Outstanding checks Balance per book, November 30 The bank statement for December 2020 showed the following: a. Deposits totaled P4,500,000, including P100,000 note collected for BSA Company. b. Disbursements totaled P3,500,000, including P70,000 NSF check and P5,000 service charge. c. The outstanding checks totaled P300,000 and the deposit in transit amounted to P500,000 on December 31. d. All reconciling items on November 30 cleared through the bank in December. Complete the bank reconciliation: Balance per bank statement, Dec. 31 Add: Deposit in transit Total P Less: Adjusted bank balance, Dec. 31 Balance per book, Dec. 31 Note collected by bank P Add: Total Less: NSF check Bank service charge Adjusted book balance, Dec. 31 What is the unadjusted bank balance on December 31, 2020? How much is the total cash receipts per book in December? Show computation. I How much is the total cash disbursements per book in December? Show computation. (
Extracted text: BAM Company prepared the following bank reconciliation on December 31, 2020: Book Balance P 2,810,000 Add: December 31 deposit in transit P1,500,000 Collection of notes receivable 5,000,000 Interest on note receivable 300,000 6,800,000 P 9,610,000 Total Less: BUM Company's deposit to our account Bank service charge Adjusted book balance P2,200,000 10.000 2.210.000 P 7.400,000 Bank Balance P11,260,000 Add: Error on check no. 915 90.000 P11,350,000 Total Less: Preauthorized payment for light and water P 490,000 440,000 3,300,000 NSF check Outstanding checks Adjusted bank balance 4,230,000 P 7,120.000 Other information: Check No. 915 was made for the proper amount of P450,000 in payment of account. However, the check was entered in the cash disbursement journal as P540,000. BAM Company authorized the bank to automatically pay its light and water bills as submitted directly to the bank. Required: a. Prepare a corrected bank reconciliation (adjusted balances). b. Prepare the adjusting entries on December 31.