Requirements:

1. Prepare the bank reconciliation statements

2. Adjusting entries

NOTE:

P is Philippine Peso (Philippine Currency)

F. CITIBANK Jetro also maintains a bank account with Citibank. Your review of the bank reconciliation statement disclosed the following information: 1. On December 22, 2018, the bank erroneously credited the account of Jetro Corporation for P 195,000 representing deposit for the account of another company, 2. Postdated checks totaling P 37,900 were included in the deposits in transit. These represent collections of accounts receivable from customers. The checks were actually deposited on January 5, 2020. 3. On December 28, 2019, the company issued checks to creditors totaling P 115,000. These checks were released on January 5, 2020. 4. A check dated December 12, 2019, in payment of accounts payable was recorded as P 12,000. Upon examination of the checks returned by the bank, the actual amount was P 21,000. 5. A check for P 4,750 in payment of a minor repair of office, equipment was not recorded on the company books. 6. Transfer of fund of P 59,300 to Bank of America current account 7. Interest camed amounting to P 5,720 was not recorded. 8. Deposit in transit and outstanding checks at December 31, 2018, amounted to P 89,200 and P 132,000, respectively. 9. The cash in bank balance per book on December 31, 2019, is 281,200