PROOF OF CASH Your Client, Amazing Grace Company, presented you with the following data: Bank balances: November 30 December 31 P2,500,000 3,100,000 Bank Receipts in December 2,300,000 Deposits in Transit November 30 P58,000 December 31 47,000 Outstanding Checks November 30 97,000 46,000 December 31 NSF checks returned by bank (recorded by client in the month following the return) November 30 December 31 15,000 25,000 Bank Service Charges (recorded by client in the month following the month of charge) November 30 December 31 10,000 18,000 Note Collected by bank (recorded by client in the following month) November 30 December 31 76,000 84,000 Erroneous bank charges (corrected by the bank In the following month) November 30 December 31 25,000 37,000 Erroneous bank credits (corrected by the bank In the following month) November 30 December 31 45,000 50,000 Prepare a four-column proof of cash reconciling bank balance and balance per books to the correct balance. Prepare the necessary adjusting entries.