In auditing the ASHOPEE Company, you obtained the bank statement, canceled checks, and other memoranda which relate to the company's bank account for December 2018. In reconciling the bank balance with that shown on the company's books, you observed the facts set forth below:

1. Balance per bank statement, December 31, 2018 - 47,174
2. Balance per books, December 31, 2018 - 19,289
3. Outstanding checks, December 31, 2018 - 63,000
4. Receipts of December 31, 2018, deposited January 2, 2019 - 6,260
5. Service charge for November, per bank memo of December 15, 2018 - 1,000
6. Proceeds of bank loan, December 15, 2018, discounted for 3 months at 18% per annum omitted from company books - 47,750
7. Deposit of December 22, 2018, omitted from bank statement - 9,170
8. Check of Milano Company, returned on December 21, 2018, for absence of counter-signature and redeposited with complete signature on January 3, 2019, no entry on the books having been made for the return or redeposit. - 77,320
9. Error on bank statement in entering deposit of December 18, 2018: Correct amount P1,600; entered in the statement P160 - 1,440
10. Check No. 021261 of Small Company charged by bank in error to company's account - 13,600
11. Proceeds of note of Arthur Co., collected by bank, December 10, 2018, not entered in cash book (principal amount of P25,000 plus interest of P1,125, less collection fee) - 25,625
12. Erroneous debit memo of December 28, 2018, to charge company's account with settlement of bank loan which was paid by check no. 112171 on same date - 5,000
13. Error on bank statement in entering deposit of December 4, 2018: Entered as P14,200.62; correct amount P12,400.62 - 1,800
14. Deposit of Miles Co. of December 2, 2018, credited in error to this company - 3,500

The amount of collection fee is

1,625

625

500

0