In reconciling the cash in bank account of Borderlands Company for the month of December, the following Data

are gathered:

November 30 December 31
Cash in Bank Account P 2,032,000 P 3,160,000
Bank Statement Balance 1,890,000 2,900,000
Bank Debits 1,080,000
Bank Credits ?
Book Debits ?
Book Credits 1,440,000
Outstanding Checks 180,000 592,000
Deposit in Transit 80,000 498,000
Check erroneously charged by bank against entity’s account
(corrected in subsequent month) 40,000 50,000
Bank Service Charge 2,000 4,000
Note Recorded as cash receipt when placed with bank for collection
(note is actually collected by bank in subsequent month and credited
by bank to entity’s account in the same month) 200,000 300,000

Required: a. Four column Bank Reconciliation showing adjusted balances.

b. Adjusting Entries

In reconciling the cash in bank account of Borderlands Company for the month of December, the following Data
are gathered:

November 30 December 31
Cash in Bank Account P 2,032,000 P 3,160,000
Bank Statement Balance 1,890,000 2,900,000
Bank Debits 1,080,000
Bank Credits ?
Book Debits ?
Book Credits 1,440,000
Outstanding Checks 180,000 592,000
Deposit in Transit 80,000 498,000
Check erroneously charged by bank against entity’s account
(corrected in subsequent month) 40,000 50,000
Bank Service Charge 2,000 4,000
Note Recorded as cash receipt when placed with bank for collection
(note is actually collected by bank in subsequent month and credited
by bank to entity’s account in the same month) 200,000 300,000

Required: a. Four column Bank Reconciliation showing adjusted balances.

b. Adjusting Entries