PROBLEM B: Lovable Company prepared the following bank reconciliation on June 30: Balance per bank statement, June 30 Deposit in transit Total Outstanding checks Balance per book, June 30 3,000,000 400,000 3,400,000 (900,000) 2,500,000 The bank statement for the month of July showed the following: Deposits (including P200,000 note collected for Lovable) 9,000,000 Disbursements (including P140,000 NSF check and P10,000 service charge) 7,000,000 All reconciling items on June 30 cleared through the bank in July. The outstanding checks totaled P600,000 and the deposit in transit amounted to P1,000,000 on July 31. 1. What is the cash balance per book on July 31? 2. What is the amount of cash receipts per book in July? 3. What is the amount of cash disbursements per book in July? 4. What is the balance per bank statement on July 31? 5. What is the adjusted cash balance at the end of July