12. Reconciliation of Heaven Company's bank account at May 31, 2014 is: Balance per bank statement Deposits in transit Checks outstanding Correct cash balance Balance per book Bank service charge Correct cash balance June data as follows: Bank Total credits Total debits Collection by bank (P400, 000 note plus interest) NSF check Balance Books Deposits recorded Checks recorded Balance The deposits in transit on June 30, 2014 amount to A. P120, 000 B. P480, 000 2,100,000 300,000 (30I 0001 2 370 000 i 2,372,000 (2, 0001 2 370 000 i 1,620,000 2,300,000 420,000 10,000 1,420,000 1,800,000 2,360,000 1,810,000