The following information was included in the bank reconciliation for Phillip Company for October and November 2021: *Checks and charges recorded by bank in November, including a November service charge of P4,000 and NSF check of P20,000 - 550,000 *Service charge made by bank in October and recorded by depositor in November - 2,000 *Total credits to cash in all journals during November - 620,000 *Customer's NSF check returned in October and redeposited in November (no entry made by depositor in either October or November) - 40,000 *Outstanding checks on October 31, 2021 that cleared in November - 230,000 What is the amount of outstanding checks on November 30, 2021?

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Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.