Reference no: EM132780200

Question - Information about Samsung Company's cash in bank for the year ended December 31, 2020 was presented below:

Nov. 30 Dec. 31

Cash balance per book P258,600 P420,150

Cash per bank statements 400,500 530,600

Deposit in transit 23,100 20,450

Outstanding checks 13,400 11,320

Bank service charges 300 420

Insufficient fund check 2,500 7,600

Company's notes receivable collected by bank 160,300 109,400

The bank statement and the company's cash records show the following totals:

Checks and debit memos per bank statement P188,200

Cash receipts per cash record 343,350

Cash disbursements per cash records 181,800

Deposits and credit memos per bank statement 318,300

Additional information:

1. A P5,000 bank debit error in November was corrected by the bank in December, while a P2,000 check collection in December deposited by Samyang Company was erroneously credited by the bank to the company's account in December.

2. An P18,000 customer collection was debited in the book for P1,800.

3. The book credited a check payment to a supplier made in November at P5,600. The correct amount of the check is P6,500. This was corrected in December.

Required - What is the adjusted receipts in December?