Problem 1 The following information were taken from the records of Argon Co.: Argon maintains its current account with Thunder Bank. The bank statement on December 31, 2021, showed a balance of P1,276,680. Your examination of the Argon's account with Thunder bank disclosed the following information: a. C. A check for P45,000 received from a customer whose account is current had been deposited and then returned by the bank on December 28, 2021, marked 'NSF'. The customer replaced the check on January 15, 2022. b. A check written by Argon for P11,440 was erroneously recorded by the bank as P15,040. A check for P7,000 representing a payment of an employee advance was received and deposited on December 27, 2021, but was not recorded until January 2022. d. Postdated checks totaling P134,600 were included the deposits in transit. These represent collections of current accounts receivable from customers. The checks were actually deposited on January 5, 2022. e. Various debit memos amounting to P460,000 were included in the bank statement. f. Interest earned on the bank balance for the fourth quarter of 2021, amounting to P3,900, was not recorded. g. Bank service charges totaling P2,520 were not recorded. h. Deposits in transit and outstanding checks on December 31, 2021 totaled P272,500 and P552,760, respectively. Various expenses from the company's imprest petty cash fund dated December 2021, totaled P32,500, while those dated January 2022, amounted to P11,806. Coins and currencies inside the petty cash box as of December 31, 2021, amounted to 29,200. This includes the donation of Argon's employees to a reitiring employee amounting to P2,000. A replenishment of the petty cash fund was made on January 8, 2022. The company's unadjusted trial balance on December 31, 2021, includes the following accounts: Cash in bank - Thunder Bank Petty cash fund P1,496,640 60,000 1. How much is the adjusted petty cash fund balance on December 31, 2021? 2. How much is the shortage on the petty cash fund? 3. How much is the adjusted Cash in bank - Thunder Bank balance on December 31, 2021? Problem 1 The following information were taken from the records of Argon Co.: Argon maintains its current account with Thunder Bank. The bank statement on December 31, 2021, showed a balance of P1,276,680. Your examination of the Argon's account with Thunder bank disclosed the following information: a. C. A check for P45,000 received from a customer whose account is current had been deposited and then returned by the bank on December 28, 2021, marked 'NSF'. The customer replaced the check on January 15, 2022. b. A check written by Argon for P11,440 was erroneously recorded by the bank as P15,040. A check for P7,000 representing a payment of an employee advance was received and deposited on December 27, 2021, but was not recorded until January 2022. d. Postdated checks totaling P134,600 were included the deposits in transit. These represent collections of current accounts receivable from customers. The checks were actually deposited on January 5, 2022. e. Various debit memos amounting to P460,000 were included in the bank statement. f. Interest earned on the bank balance for the fourth quarter of 2021, amounting to P3,900, was not recorded. g. Bank service charges totaling P2,520 were not recorded. h. Deposits in transit and outstanding checks on December 31, 2021 totaled P272,500 and P552,760, respectively. Various expenses from the company's imprest petty cash fund dated December 2021, totaled P32,500, while those dated January 2022, amounted to P11,806. Coins and currencies inside the petty cash box as of December 31, 2021, amounted to 29,200. This includes the donation of Argon's employees to a reitiring employee amounting to P2,000. A replenishment of the petty cash fund was made on January 8, 2022. The company's unadjusted trial balance on December 31, 2021, includes the following accounts: Cash in bank - Thunder Bank Petty cash fund P1,496,640 60,000 1. How much is the adjusted petty cash fund balance on December 31, 2021? 2. How much is the shortage on the petty cash fund? 3. How much is the adjusted Cash in bank - Thunder Bank balance on December 31, 2021