Negros Island Navigation has the following information for bank reconciliation Bank Balance as of December 1, 2020 -50,000.00 Deposits--- --90,000.00 Checks issued --45,000.00 Bank Service Charge --500.00 Note Collected, including interest of P300.00,0------5,600.00 A check amounting to 1,000.00 was recorded by the bank as disbursement for 10,000.00 All outstanding checks in November was negotiated while on December, P65,000.00. is still outstanding. December Deposit in transit is P10,000. Collection of P6,000.00 was deposited but not recorded by the company. A check dated January 21, 2021 was received from a customer amounting to 5,000.00 was received December 27, 2020 was included in the book. Petty Cash Fund - .-20,000.00 Time Deposit, 90 days - 100,000.00 Investment in Equity Securities --50,000.00 Postal Money Order-- --5,000.00 Payroll Fund-- -- 100,000.00 The cash in bank includes a compensating balance amounting to P25,000.00, no agreements was signed. 1. Prepare a two column bank reconciliation. 2. Prepare adjusting entries for bank reconciliation 3. Compute for total amount of cash and cash equivalents to be reflected in the statement of financial position as of December 31, 2020