Compute for the following:

1. Undeposited Collections as of December 31, 2020
2. Outstanding Checks as of December 31, 2020
3. Adjusted cash balance as of November 30, 2020
4. Adjusted bank receipts for December
5. Adjusted book disbursements for December
6. Adjusted cash balance as of December 31, 2020

Please provide a solution/explanation. Thank you!

You obtained the following information on the current account of XYZ Company during your examination of its financial statements for the year ended December 31, 2020. The bank statement on November 30, 2020 showed a balance of P76,500. Among the bank credits in November was customer's note for P25,000 collected for the account of the company which the company recognized in December among its receipts. Included in the bank debits were cost of checkbooks amounting to P300 and P10,000 check which was charged by the bank in error against XYZ Co. account. Also, in November you ascertained that there were deposits in transit amounting to P20,000 and outstanding checks totaling P42,500. The bank statement for the month of December showed total credits of P104,000 and total charges of P51,000. The company's books for December showed total receipts of P183,900, disbursements of P101,800 and a balance of P121,400. Bank debit memos for December were: No. 143 for service charges, P400 and No. 145 on a customer's returned check marked "DAIF" for P6,000. On December 31, 2020 the company placed with the bank a customer's promissory note with a face value of P30,000 for collection. The company treated this note as part of its receipts although the bank was able to collect on the note only in January 2021. A check for P990 was recorded in the company cash payments books in December as P9,900. You obtained the following information on the current account of XYZ Company during your examination of its financial statements for the year ended December 31, 2020. The bank statement on November 30, 2020 showed a balance of P76,500. Among the bank credits in November was customer's note for P25,000 collected for the account of the company which the company recognized in December among its receipts. Included in the bank debits were cost of checkbooks amounting to P300 and P10,000 check which was charged by the bank in error against XYZ Co. account. Also, in November you ascertained that there were deposits in transit amounting to P20,000 and outstanding checks totaling P42,500. The bank statement for the month of December showed total credits of P104,000 and total charges of P51,000. The company's books for December showed total receipts of P183,900, disbursements of P101,800 and a balance of P121,400. Bank debit memos for December were: No. 143 for service charges, P400 and No. 145 on a customer's returned check marked "DAIF" for P6,000. On December 31, 2020 the company placed with the bank a customer's promissory note with a face value of P30,000 for collection. The company treated this note as part of its receipts although the bank was able to collect on the note only in January 2021. A check for P990 was recorded in the company cash payments books in December as P9,900