DATE: PROOF OF CASH PRE -TEST You are conducting an audit of the Dimal Las Co. for the year ended December 31, 2015. The internal control procedures surrounding cash transactions were not adequate. The bookkeeper-cashier handles cash receipts, maintains accounting records, and prepares the monthly bank reconciliations. The bookkeeper-cashier prepared the following reconciliation at the end of the year: Balance per bank statement P 350,000 Add: Deposit in transit P 175,250 Note collected by bank 15,000 190.250 Total 540.250 Less: Outstanding checks 246.750 Balance per general ledger 293.500 In the process of your audit, you gathered the following: At December 31, 2015, the bank statements and general ledger showed balances of P350,000 and P293,500, respectively. The cut-off bank statement showed a bank charge on January 2,2016 for P30,000 representing correction of an erroneous bank credit. Included in the list of outstanding checks were the following: a. A check payable to a supplier, dated December 29, 2015, in the amount of P14,750, released on January 5,2016. b. A check representing advance payment to a supplier in the amount of P37,210, the date of which is January 4, 2016, and released in December, 2015. On December 31, 2015, the company received and recorded customer's postdated check amounting to P50,000. REQUIRED: (PDF p. 16) 1. Compute for the following as at December 31, 2015: a. Adjusted deposit in transit b. Adjusted outstanding checks C. Adjusted cash in bank