Problem 2 Presented below are extracts from the general ledger of the account and the relevant statement of account. you need bank reconciliation and prepare the relevant adjusting entries for December 31, 2020. Use the adjusted balance method. Cash-in-Bank Debit Credit Beginning balance, 12/1/19 2,000,000 Bank Service Charges for November 2020 20,000 NSF Check for November 2020 100,000 Loan from Bank net of P100,000 origination fee (granted in November 2020) 900,000 Deposit, 12/5/20 500,000 Check 115 50,000 Check 116 120,000 Check 117 80,000 Check 118 75,000 Check 119 60,000 Check 120 140,000 Deposit, 12/16/20 120,000 Deposit, 12/20/20 400,000 Check 122 280,000 Check 123 100,000 Deposit, 12/25/20 200,000 Check 124 300,000 Deposit, 12/31/20 250,000 Xandra Company Debit Credit Beginning balance, 12/1/20 1,500,000 Deposit, 11/31/20 1,000,000 Error made in November when the bank erroneously debited the account of Xandra Company for check issued by Sandra Company 1,000,000 Bank Service Charges for December 2020 18,000 NSF Check from customer in December 2020 32,000 First month loan payment 100,000 Check 110 80,000 Check 111 240,000 Check 112 130,000 Check 113 150,000 Deposit, 12/5/20 500,000 Deposit, 12/16/20 120,000 Deposit, 12/20/20 400,000 Check 121 100,000 Check 115 50,000 Check 116 120,000 Check 117 80,000 Check 118 75,000 Check 119 60,000 Check 124 300,000 Deposit, 12/25/20 200,000 Additional information: 1. Check 114 amounting to P120,000 issued on November 31, 2020 remains not cashed by December 31, 2020. 2. All checks issued and/or cashed were with proper authorization and all signatures were verified.