Problem 3-3 (IAA) Fabulous Company provided the following data concerning cash on July 31: Checks drawn No. 101 600,000 No. 102 700,000 No. 103 300,000 No. 104 400,000 No. 105 450,000 No. 106 600,000 No. 107 650,000 No. 108 500,000 Bank statement Balance, July 31 2,700,000 Charges: Checks paid 4,000,000 Service charge 20,000 Credits: Deposits 3,500,000 Note collected 1,500,000 Balance of cash per book on July 1, P1,270,000. Cash receipts per cash book for the month of July P3,400,000. Checks paid by bank include all cheks issued during the month of July except No. 107 and No. 108. On July 31 cash received but not deposited in bank, P400,000. Required: a. Prepare bank reconciliation on July 1 and July 31. b. Prepare adjusting entries on July 31