ABC Company had the following items being considered as cash and cash equivalents on December 31, 2021: Cash on hand P500,000 Petty cash fund (replenished on December 31, 2021) X Bank current account...

Extracted text: ABC Company had the following items being considered as cash and cash equivalents on December 31, 2021: Cash on hand P500,000 Petty cash fund (replenished on December 31, 2021) X Bank current account 20,000 1,000,000 Y Bank current account No. 1 400,000 Y Bank current account No. 2 (50,000) BSP treasury bill - 60 days Z Bank time deposit- 30 days 3,000,000 2,000,000 Additional information: • The cash on hand included a customer postdated check of P100,000 and postal money order of P40,000. • A check for P200,000 was drawn and recorded against X Bank account dated December 15, 2021, but mailed to the payee on January 5, 2022. • The BSP treasury bill was purchased on December 1, 2021. • The Z time deposit was purchased on December 15, 2021 and is set aside for acquisition of land in 2022. 33) What total amount of cash should be reported on December 31, 2020?