In the review of Loki Company on December 31, 2020, the following data were gathered: Balance per book P1,000,000 Bank charges 3,000 Outstanding checks 235,000 Deposit in transit 300,000 Customer note collected by bank 375,000 Interest on customer note 15,000 Customer check returned NSF 62,000 Depositor's note charged to account 250,000

How much should be the adjusted Cash in Bank balance as of December 31, 2020?

a. P1,065,000

b. P1,075,000

c. P1,325,000

d. P1,575,000