Direction: Specify the reconciling items in the following independent transactions whether it is a book error or bank error. In addition, determine the effect (added or deducted) and state the amount that will be added or deducted in the preparation of the bank reconciliation. (10 points) Ex. Rey Laundry shop received P2,500 from Lito Natuto. The bookkeeper recorded the amount as P3,500. Specific reconciling items Effect and Amount Book error Deduct 1,000 1-2 The bank collected P 3,500 from a note receivable for Sheneyo Company. Also, a collection fee of P 250 was charged. Specific reconciling items Effect and Amount 1. 2. 3-4 NSF check in the amount of P1,680 was returned by the bank. Specific reconciling items Effect and Amount 3. 4. 5-6. Outstanding checks of P 15,000. Specific reconciling items Effect and Amount 5. 6. 7-8 A check issued by Sheneyo Company for P5,600 was recorded in the accounting books as P5,900. Specific reconciling items Effect and Amount 8. 9-10 Experiment Co. had a receipt of P300,000 and correctly prepared its bang- 10deposit slip for P300,000. However, the company recorded the receipt in its Cash account as P303,000. Specific reconciling items Effect and Amount 9. 10. 7