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Klee Corp. has a current account in BPI. Your audit of the company's cash account reveals the following: Balances taken from the company's general ledger:

Klee Corp. has a current account in BPI. Your audit of the company's cash account reveals the following:

Balances taken from the company's general ledger:

Cash balance, November 30, 2019 P637,860 Cash balance, December 31, 2019 576,420 Receipts, December 306,220 Balances taken from the December bank statement:

Bank balance, November 30, 2019 P685,180 Bank balance, December 31, 2019 637,220 Disbursements 356,080 Outstanding checks, November 30, 2019 (P26,140 was paid by the bank in December), P64,140.

Checks written and recorded in December; not included in the checks returned with the December bank statement, P36,080.

Deposit in transit, November 30, 2019, P15,260.

Deposit in transit, December 31, 2019, P16,140.

A bank credit memo was issued in December to correct an erroneous charge made in November, P1,500.

Note collected by bank in December (the company was not informed of the collection), P2,060.

A check for P2,020 (payable to a supplier) was recorded in the check register in December as P3,000.

Klee Corp. issued a stop payment order to bank in December. This pertains to a check written in December which was not received by the payee. A new check was written and recorded in the check register in December. The old check was written off by a journal entry also in December, P780.

Bank service charge, November 30, 2019, P60.

Question:

What is the adjusted book balance on December 31, 2019?

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