q46

What is the correct amount of outstanding checks as of December 31,2020? (1 Point) O P 209,550 P 206,750 P 194,550 O P 231,750The accountant of GHI Company prepared the following bank reconciliation at December 31,2020: Balance per bank statement P 350,000 Add: deposit in transit 175,250 Note collected by bank 15,000 Total P 540,250 Less: Outstanding checks 246750 Balance per ledger P 293,500 It was discovered that : a.) At December 31,2020, the bank statement and the general ledger showed balances of P 350,000 and P 293,500, respectively. b.) The cut-off bank statement showed a bank charge on January 2,2021 for P 25,000 representing a correction of an erroneous bank credit. c.) Included in the list of outstanding checks were the following: - A check payable to a supplier date December 29,2020,in the amount of P 15,000 released on January 5,2021. - A check representing advance payment to a supplier in the amount of P 37,200, the date of which is January 4,2021 and released in December 2020. d.) On December 31,2020, the company received and recorded a customer's check dated January 2021 amounting to P 50,000