For this question, kindly use the information below

For question 4. kindly use the additional information below. The statement from Jackson County Bank on December 31 showed a balance of Php. 26,130. A comparison of the bank statement with the Cash account revealed the following facts: a. The bank collected a note receivable of Php. 2,200 for Ignatius Company on December 15. b. The December 31 receipts were deposited in a night deposit vault on December 31. These deposits were recorded by the bank in January. c. Checks outstanding on December 31 totaled Php. 1,210. d. On December 31, the bank statement showed an NSF charge of Php. 680 for a check received by the company from P. Faber, a customer, on account. e. The cash balance per books is Php. 26,100. 4. Prepare a bank reconciliation as of December 31. What are the conditions the company will be facing if they have failed to reconcile data or made an error in recording? (20 points; 10 points for the bank reconciliation statement; 10 points for explanation.) Criteria/ Points 4 3 2 Accuracy Concepts/ Facts used are Concepts/ Facts are generally Concepts/ Facts are Concepts/ Facts are mostly completely accurate; accurate; explanation shows inaccurate; explanation inaccurate; explanation explanation shows substantial understanding of shows partial understanding shows some understanding thorough understanding concepts. of concepts. of concepts of concepts. Computation All computation is complete The final answer is correct The final answer is incorrect and correct. but contains 1 or 2 flaws in but has correct answers in the process. the process. Reasoning and Uses complex and refined Uses effective reasoning; Uses basic reasoning but Strategies reasoning, uses all appropriate uses appropriate lacks elaboration employed information and explains its information correctly with a relevance to the solution. brief explanation