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Please Answer this. thank you Moluccas Corporation, your client, is a successful small business but has poor internal control. lts bookkeeper, Mando Rugas, handles cash

Please Answer this. thank you

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Moluccas Corporation, your client, is a successful small business but has poor internal control. lts bookkeeper, Mando Rugas, handles cash receipts, makes small disbursements from the cash receipts, maintains accounting records, and prepares the monthly bank reconciliation. The March 31, 2020 banks statement shows a cash balance of P 590,000 while the company's general ledger shows a cash balance of P 696,499. At March 31, the following checks were outstanding: No. 7163 P 8,623; No. 7284 P 7,320; No. 7285 P 10,612; No. 8722 P 6,322; No. 8724 P 12,180; No. 8733 P6200. Mando Rugas realizes that being the company cashieraccountant, he can easily misappropriate collections and conceal it. He removed all the cash on hand in excess of P 127,301. To conceal the theft, he prepared the following bank reconciliation. Balance per books 696,499 Add: Outstanding checks No. 8722 6,322 No. 8724 12,180 No. 8733 6,200 20,802 Total 717,301 Less: Cash on hand 127,301 Balance per bank 590,000 QUESTION 1: The cash taken by the cashier accountant is [salad] " . QUESTION 2: The amount of cash that should be on hand at November 15, 2020 is [Select] V

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