Balance per bank statementP$4,000,000$Outstanding checks $($including certified check of $200,000)1,000,000$Deposit in transit$400,000$December NSF checks $($of which $100,000$ had been redeposited and cleared by December $27)300,000$Erroneous credit to M CO$.$s account, representing proceeds of loan granted to another company$600,000$Proceeds of note collected by bank for M CO$.,$ net of service charge of $40,0001,500,000$What is the cash in bank to be reported on December $31,2023?$