On January 1, 2020, Academic Melt Company has the following relevant information concerning its bank reconciliation: Bank Statement P 308.000 Cash, Jan. 1 Deposits Checks cleared NSF check from a customer Note collected Interest on bank balance Service charges Cash, Jan. 31 511,980 541,180 1,000 16,800 360 140 P 294,820 Ledger Cash, Jan. 1 Deposits Checks P 283,500 514,680 530,000 Additional Information: 1. The company overstated one of its deposits by P200; the bank recorded it correctly. 2. The December 31, 2019 reconciliation yielded deposits in transit of P15,500 and outstanding checks of P40,000. What is the amount of the adjusted cash balance