Accounts payable of Grey Company has unadjusted balance of P3,000,000on December 31, 2019. The result of purchases cut-off on the company's purchase transactions from December 15 to January 15 are as follows:

Receiving Report No. Invoice Date Receiving Report Date Shipment terms Amount

65212 12/15/2019 12/15/2019 FOB Shipping Point P125,000

65213 12/17/2019 12/20/2019 FOB Shipping Point 316,000

65214 12/21/2019 12/21/2019 FOB Destination 117,500

65215 12/26/2019 12/30/2019 FOB Destination 120,000

65216 12/30/2019 1/2/2020 FOB Shipping Point 230,000

65217 12/30/2019 1/2/2020 FOB Shipping Point 228,000

65218 12/31/2019 1/3/2020 FOB Destination 219,000

65219 1/2/2020 1/5/2020 FOB Buyer 330,500

65220 1/5/2020 1/10/2020 FOB Shipping Point 341,000

65221 1/7/2020 1/11/2020 FOB Shipping Point 122,000

65222 1/10/2020 1/15/2020 FOB Destination 125,000

Investigation revealed that the last receiving report recorded in the voucher register was RR65220

1) How much is the adjusted balance of accounts payable on December 31, 2019?

2) How much is the net credit (debit) adjustments to accounts payable? (Unadjusted balance+ net credit adjustments or - net debit adjustments = Adjusted balance