ABC Company keeps all of its cash in a checking account. Presented on the next page are the bank reconciliation prepared at the end of November, a summary of the company's bank statement for December, and the company's general ledger account for cash. ABC Company Bank Reconciliation Statement Nov, 2020 Balance per bank statement P 625,000 Add deposits in transit 22,500 Total P 647,500 Deduct outstanding checks 41,800 Correct cash balance P 605,700 Balance per books P 607,200 Deduct bank service charge 1,500 Correct cash balance P 605,700 A summary of ABC's bank statement for June follows: Balance, Dec 1 P 625,000 Deposits shown for June 2,569,200 Note and interest collected during December less collection 156,500 fee Checks that cleared during December (2,570,700) December service charge (1.700) Balance, Dec 31 P 778.300 The ledger account for Cash in Bank follows: Cash in Bank Balance, Dec 1 607,200 Service charge for Nov 1,500 Dec receipts 2,618,200 Dec disbursements 2,566,400