ANSWER 2 AND 3 only. PROBLEM #6Liam Co. provided the following bank reconciliation on May 31:Balance per bank statementDeposits outstandingChecks outstandingCorrect cash balanceBalance per bookBank service chargeCorrect cash balance2,100,000300,000(50,000)2,350,0002,360,000(10,000)2,350,000Data for the month of June:BANKВOOKChecks recordedDeposits recordedCollection by bank, P500,000 note plus interest 550,000NSF check returned with June 30 statementBalances1. What is the amount of checks outstanding on June 30?2. What is the amount of deposit in transit on June 30?3. What amount should be reported as adjusted cash in bank on June 30?2,300,0002,400,0001,700,0001,800,000100,0001,950,0001,750,000

Bank reconciliation statement shows differences between the balance as per books and balance as per…

Data for the month of June: BANK BOOK Checks recorded Deposits recorded Collection by bank, P500,000 note plus interest 550,000 NSF check returned with June 30 statement Balances 1. What is the amount of checks outstanding on June 30? 2,300,000 2,400,000 1,700,000 1,800,000 100,000 1,950,000 1,750,000 What is the amount of deposit in transit on June 30? What amount should be reported as adjusted cash in bank on June 30?