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problem solving: Buddha Corporation provided the following information: Balance per bank statement - May 31 P 2,600,000 Deposits outstanding 300,000 Checks outstanding (100,000) Correct bank

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Buddha Corporation provided the following information: Balance per bank statement - May 31 P 2,600,000 Deposits outstanding 300,000 Checks outstanding (100,000) Correct bank balance - May 31 P 2,800,000 Balance per book - May 31 2,810,000 Bank service charge (10,000) Correct book balance - May 31 P 2,800,000 June data are as follows: Bank Book Check recorded P 2,200,000 P 2,500,000 Deposits recorded 1,600,000 1,800,000 Service charges recorded 50,000 Notes collected by bank, P 500,000 plus interest 550,000 NSF check returned with June 30 statement 100,000 Balances 2,400,000 2,100,000 What is the amount of outstanding checks on June 30? What is the amount of deposit in transit on June 30? What is the adjusted cash in bank on June 30

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