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4. Given the following information, compute the correct cash balance. Balance per bank P22,907.50 Balance per book 21,336.00 Deposit in transit 1,814.00 Outstanding check 3,470.50 A check for P450 was recorded in the books as P540. A debit memo (DM) for the check book amounted to P175 Correct cash balance: 5. Poseidon Trading opened a current account with Ocean Bank on May 5 with an initial deposit of P498, 500. On May 31, the bank statement showed a balance of P575, 000. Deposits for May made by Poseidon Trading per cash receipts book is P175,000 and checks issued for the same month amount to P99, 000. Per bank statement, total deposits for the month of December totalled P150,000 and check paid by Traders Bank for the same month totalled P72, 000> Bank service charge for the month is P1,500. Required: Deposit in transit: Outstanding check: Correct cash balance for Dec. 31