Required:

1. Prepare a corrected bank reconciliation statement showing both balances adjusted over/(short)

2. Prepare the necessary compound adjusting entries.

P is Philippine Peso (Philippine Currency)

197,054.64 2,288.52 4.881.60 BANK RECON 2 The following bank recon is prepared by a cashier. Balance per books Add: Outstanding checks 0223 0225 0227 Unrecorded debit Less: Undeposited receipts Unrecorded credit Correct cash balance 1.983.48 9.153.60 1.224.00 (32.110.241 (1,624.00) 171.498.00 Additional information: a The Cash book balance included undeposited receipts. b Acredit of P3,624 on the bank records for a customer deposit made directly through the banks for payment of account C AP 224 bank debit also appeared in the bank statement for service charges for the month of October d AP 1,000 depositor's note was also charged by the bank for the month. These were not yet recorded on the books e The bank statement had a balance of P 173,698 f The following are the correct outstanding checks: 0210 1.418.40 0223 2,288.52 0218 1,560.00 0225 4,881.60 0219 3,039.00 0227 1,983,48 & h Cash on hand amounted to P 32,310.24 which appeared to be undeposited per books. The cut-off bank statement the following month shows among others, a bank credit on Nov 3 for a correct ion of an October erroneous bank charge amounting to P 200 REQUIRED 1 Prepare a corrected bank reconciliation statement showing both balances adiusted over/(short)? 2 Prepare the necessary compound adjusting entries