1. Bank balance as shown in the bank statement, P 648,364. Cash in Bank balance in...

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1. Bank balance as shown in the bank statement, P 648,364. Cash in Bank balance in the books of the business, P 707,404. Deposit in transit is P46,800. Checks outstanding for the month: No. 15600 P6,280 No. 15618 P 1,430 No. 15613 P 8,000 Bank Service Charge was P 550 and NSF check of a customer was P 29,200 Check no. 15605 for repair expense amounting to P 15,600 was erroneously recorded by the bookkeeper as P 17,400. REQUIRED: Prepare a bank reconciliation statement and adjusting entries as of February 28, 2022 for Bounty Sales Company. 1. Bank balance as shown in the bank statement, P 648,364. Cash in Bank balance in the books of the business, P 707,404. Deposit in transit is P46,800. Checks outstanding for the month: No. 15600 P6,280 No. 15618 P 1,430 No. 15613 P 8,000 Bank Service Charge was P 550 and NSF check of a customer was P 29,200 Check no. 15605 for repair expense amounting to P 15,600 was erroneously recorded by the bookkeeper as P 17,400. REQUIRED: Prepare a bank reconciliation statement and adjusting entries as of February 28, 2022 for Bounty Sales Company.