Tier Company established a petty cash fund of P10,000 on July 1, 2021. At the end of the month, the count of cash on hand indicated that P3,557.40 remained in the fund. A review of petty cash vouchers disclosed the following expenses had been incurred during the month:

Office supplies P841.60

Postage P780.00

Representation P1,000,00

Transportation P1,321.40

Miscellaneous P837.60

Other items found in the petty cash drawer were as follows:

• A sympathy envelope containing P3,500, representing employees contributions for the death of the mother of the companys messenger.
• An employees check for P1,100 dated August 15, 2021.

The given information indicates that there is a

Group of answer choices

538 overage

538 shortage

562 shortage

562 overage