AUDIT OF CASH

The following information was obtained in connection with the audit of Marlon
Company's cash account as of December 31, 2021:

Outstanding checks, 11/30/21 P 53, 250

Outstanding checks, 12/31/21 37, 500
Deposit in transit, 11/30/21 50, 000
Cash balance per general ledger 12/31/21 112, 500
Actual company collections from its customers during December 438, 500
Company checks paid by bank in December 375, 000
Bank service charges recorded on company books in December  9, 500
Bank service charges per December bank statement  10, 500
Deposits credited by bank during December 433, 500
November bank service charges recorded on company books in December 5, 750

The cash receipts book of December is underfooted by P8,500.

The bank erroneously charged the company's account for a P11,250 check of another
depositor.

This bank error was corrected in January 2020.

What is the total book receipts in December?

A. P425,500
B. P430,000
C. P450,000
D. P465,500

AUDIT | jipb162021