ndia Company reported the following accounts on December 31, 2020:   Cash on hand P 1,000,000 Petty Cash Fund         50,000 Security Bank current account   1,500,000 PNB current account   2,000,000 BDO current account (overdraft)   (   200,000) BSP treasury bill -120 days   3,000,000 BPI time deposit - 90 days   1,000,000 Bond Sinking Fund   2,500,000 PNB savings account     (held as compensating balance-restricted)       500,000   The cash on hand included a customer postdated check of P150,000 and postal money order of P50,000. The petty cash fund included unreplenished petty cash vouchers for P10,000 and an employee check for P5,000 dated January 31, 2021. The BPI time deposit is set aside for acquisition of land to be made in early January of 2021. The bond sinking fund is set aside for payment of bond payable due December 31, 2021 The PNB saving account was restricted as compensating balance for two years due to a loan agreement entered by India Company to PNB.   Requirements:   Compute the total cash and cash equivalents as of December 31, 2020. Explain the presentation of the items excluded from cash and cash equivalents.