Use the following information for the next thirteen (13) questions: You were assigned to review FAR Corp.'s accounts. The following post - closing trial balance has been presented to you by the accountant of FAR Corporation in line with your review of its financial statements as of and for the period ended December 31, 20x7 Petty cash fund (note 1) P50 , 00 0 Cash in bank (note 2) 1, 810 , 000 Accounts receivables and other receivable 62 0, 40 0 Allowance for doubtful account (note 3) P80 , 000 Invent ofis: 580 ,000 Prepayment: 50,000 Building 11 , 799 , 000 Accumulated depreciation 700,000 Equipment 3, 000 , 000 Accumulated depreciation 40 0 , 00 0 Accounts payable (note 4) 320,000 12 * note payable -bank (note 5) 2, 500 , 000 Premiums liability (note 6) 12 0,000 Warranties liability (note 7) 323,000 Salaries payable (note 8) 56 6 , 40 0 1z* bonds payable (note 9) 3, 000 , 000 Ordinary shares 2, 000 , 000 Accumulated profits (note 10) 7, 000 , 000 Total P17,909, 400 P17, 909, 400 Notes : Note 1: The petty cash fund includes unreplenishment December 20x7 petty cash expense vouchers of P10,000 and employee ION of P5,000. Note 2 : Reconciliation of FAR Corp's bank account on November 30 is: Balance pec bank statement ez, 100, 000 Balance pec book P2, 372, 000 Deposit in transit 300, 000 Bank service chang's (2 . 000) Outstanding check ( 3 0 , 0 0 0; Coccent cash balance P2, 370, 000 Conceet cash balance P2, 370 , 080 December Date ace as follows: Book Checks cecoeded P2, 300, 000 P2, 360, 000 Deposit cecoeded 1, 620, 000 1, 800 , 000 Collection by bank (fcom customers) 420, 000 WSF check ceturned with bec . 31 statement 10. 000 Balances 1, 830 , 080