The bookkeeper of Designer Co. prepared the following bank reconciliation: Designer Co. Bank Reconciliation For the month ended August 31, 2021 P 976,776 P Cash balance per bank statement Add: Outstanding Checks Check No. 2143778 Check No. 2143784 Check No. 2143791 Check No. 2143797 Total Deduct: Deposit made in August 31, not yet recorded by the bank Adjusted cash balance 34,595 27,275 75,960 50,150 187,980 1,164,756 101,006 963,750 P P 111,832 Cash balance per company's records Add: Proceeds of note collected by bank Principal Interest Total Service Charges Total Deduct: Check returned because of insufficient funds Deduct: Error in recording August 13 deposit of P485,000 as P458,000 Deduct: Bank service charges Adjusted cash balance P 800,000 28,000 828,000 1,800 829,800 941,632 75,230 27,000 3,600 105,830 835,802 P Required: 1. Prepare a correct bank reconciliation given the above information. 2. Prepare all necessary journal entries in the books of Designer Co