Mr. Mando Rukot, the accountant of Square Room Corporation, who was hired on June 5, 2016, absconded on June 30, 2016; apparently with a huge amount of cash. You were engaged on July 1, 2016, to ascertain the amount of money taken by the accountant. To aid you in your examination, you obtained the May bank reconciliation prepared by the previous accountant, Mr. Sipi Ey; acquired the bank statement for June; and conducted a cash count on the undeposited collections for June. May Bank Reconciliation Cash in bank balance per book, May 31 505,000 Add: Proceeds of bank loan 100,000 Outstanding checks 65,000 165,000 Total 670,000 Less: Undeposited collections 23,000 May bank service charge 2,000 25,000 Cash in bank balance per bank, May 31 645,000 Based on your cash count, cash totaling to P16,500 were still undeposited. June book debits total to P348,000, while book credits total to P240,000. The book debits only include cash collections for June, which is ascertained to be correct; and it does not include the bank loan credited by the bank in May. The book credits include the May bank service charge; the rest pertains to cash disbursements. Based on the June bank statement, June bank credits total to P286,000, including the deposit in transit in May; while June bank debits total to P305,000, including the June bank service charge for P2,000. The rest of the bank debits pertain to cleared checks. All May outstanding checks cleared the bank in June. Required: 1. How much is the outstanding checks as of June 30, 2016? 2. How much is the correct undeposited collections before the theft? 3. How much was taken by Mr. Mando Rukot? 4. At what amount shall the cash in bank be presented as of June 30, 2016