BANK RECONCILIATION You are the auditor of CV3, Inc. You obtained the bank statement and paid checks directly from the bank. In reconciling the bank balance at December 31, 20x1, you noted the following information: Balance per general ledger, 12/31/20x1 Balance per bank statement, 12/31/20x1 Debit memo for the cost of a checkbook Receipts of 12/31/20x1, deposited 01/04/20x2 Deposit of 12/23/20x1, omitted from the bank statement Check 198 of VV3, Inc. charged by the bank in error to CV3, Inc. P123,050 98,710 150 40,290 15,060 10,110 Outstanding checks, 12/31/20x1 (including certified check of P5,250) Deposit of VC3, Inc. credited in error to CV3, Inc. on 12/06/20x1 50,555 8,755 The ledger account for cash in bank included petty cash fund amounting to Proceeds of bank loan, 12/31/20x1, discounted for 90 days at 10% per year, omitted from records 10,600 48,750 The company's account was charged on December 28 for a customer's uncollectible check amounting to 14,070 Check of CV3, Inc. in payment of accounts payable had been recorded by the bookkeeper as P3,630. The correct amount is 36,300 Proceeds from cash sales for December 22 were stolen. The company expects to recover this amount from the insurance company. The cash receipts were recorded in the books, but no entry was made for the loss. 4,200 Required: 1. Prepare a bank reconciliation statement to arrive at the adjusted balances at December 31, 20x1. 2. Adjusting journal entries as of December 31, 20x1.