Minato is the cashier of Konoha Corporation. As representative of the Jiraiya and Associates, CPAs, you were assigned to verify his cash on hand in the morning of January 3, 2017. You began to count at 9:00 AM in the presence of Minato. In the course of your counting, you found currencies in paper bills and coins together with checks, vouchers, and other Items, which are mentioned below:

Bills

Coins

Checks

(2) P500;

P 5.00

1.00

0.25

0.10

0.05

(8) P100; (12) P50; (5) P20

11 loose

24 loose

5 rolls and 32 loose (50 pieces to a roll)

10 rolls and 15 loose (50 pieces to a roll)

14 rolls and 20 loose (40 pieces to a roll)

Date

12/22/16

12/26/16

Maker

Tsunade, Asst. Mgr.

Kushina, Cashier

Payee

Konoha Corp. Konoha Corp.

Amount

6,000

4,000

IOUs

Date

12/20/16

12/22/16

12/24/16

Maker

Guy, Janitor

Kakashi, cleric

Naruto, bookkeeper

Amount

500

750

500

PETTY CASH VOUCHERS FOR REPLENISHMENT

Date Payee Accounts Charged

12/16/16 Sasuke, Messenger Advances to employees

12/17/16 Sakura and Co Supplies

12/18/16 Lee Liner Freight In

12/18/16 Posts Office Supplies

12/20/16 Itachi, Carpenter Repairs

12/21/16 Obito Miscellaneous expense

Amount

1,000.00

545.00

982.50

300.00

2,950.00

554.00

Your Investigation also disclosed the following:

1. The balance or petty cash fund per books is P20,000.00.

2. Cash sale of January 2, 2017 amounted to P8,650 per sales records, while cash receipts book and bank deposit slip showed that only P7,650 was deposited in the bank on January 3, 2017

3. The following employees' pay envelopes had been opened and the money removed. Each envelope was marked "unclaimed" - Zabuza, P332.50; Ino, P447.50.

Questions:

1. What is the amount of petty cash shortage at December 31, 2016?

2. What is the adjusted petty cash balance at December 31, 2016?

3. What is the undeposited sales/collection at December 31, 2016?