In relation to your audit of the financial statements of the Rocky Mountain High for the fiscal year ended November 30, 2022, you decided to prepare a cutoff bank reconciliation as of December 6, 2022. The cash book contained the following:

Dec. 1 balance P 921,500

Receipts Checks Drawn

Dec 3 85,800 P 308,000

4 134,600 84,400

5. 186,200 62,000

6 102,000 105,000

The bank statement dated at the close of business on December 6, 2022 showed:

Balance, November 30, 2022 P888,800

Deposits 555,500

Checks and other charges 666,600

The bank checks and other charges include a P200,000 charge made by the bank on December 4, 2022 plus interest of P28,000 as payment of bank loan and all checks issued prior to December 5, except checks for P30,000 and P40,000 dated December 3 and 4, respectively.

The daily cash receipts were deposited in the first banking hour of the following day.

All disbursements were made by checks except that a payment of P12,000 representing advances to a hotel for Christmas launching of a new product was made out of undeposited collections in the afternoon of December 6.

Required:

Adjusted cash in bank balance as of November 30