The breakdown of the Cash and Cash Equivalents account of b Corporation as of December 31, 2021 is as follows: Cash on hand 135,000 Cash funds 5,450,000 Cash in bank 8,900,000 Investments 2,400,000 Some relevant items related to cash on hand are presented below: • Included in the balance are as follows: o A check received from a customer dated January 5, 2022, P5,000 o A customer check dated November 11, 2021, P12,000 o A customer check dated February 4, 2021, P5,000 o Unused postage stamps, P800 o An undelivered check dated December 28, 2021, P24,000 • Excluded from the balance are as follows: o A customer check dated December 30, 2021, P10,000 o An undelivered check dated December 30, 2021, P8,000 o A customer check dated March 31, 2021, P1,000 o Money order, P4,500 Relevant information regarding the cash funds are as follows: • The petty cash fund balance is at P20,000. As of December 31, 2021, included in the fund are bills and coins for P8,000, and various expense vouchers at P12,000. • Dividend fund, P230,000 • Payroll fund, P200,000 • Bond sinking fund at P5,000,000. The fund was set up last February 4, 2017 for the issuance of a 5-year bond. Cash in bank includes the following: • Savings account in BPI for P1,000,000; including the proceeds of a 5-year loan of P200,000 credited in the account last September 24, 2017 with a 10% legally restricted compensating balance • Checking account in BDO for P3,200,000 which includes a balance of P3,400,000 on the entity’s first account and an overdraft of P200,000 on the second • Checking account in MB with an overdraft of P500,000 • Account in foreign bank ABB, P2,500,000; unrestricted in use • Account in foreign bank BBB, P2,700,000; restricted in use for an expansion plan in that foreign country Investments include the following: • Investment in treasury bills o TB with maturity date of January 31, 2022; acquired last November 2, 2021; P450,000 o TB with maturity date of February 2, 2022; acquired last June 28, 2021, P900,000 • Investment in equity securities o Avengers Company ordinary shares acquired last December 1, 2021; for trading purposes and is expected to be disposed within three months from the acquisition date; P350,000 o Abangers Company ordinary shares acquired last December 15, 2021; not for trading purposes; P400,000 o Sawi Corporation redeemable preference shares acquired last November 2, 2021; maturity date is February 28, 2022, P130,000 • Investment in debt securities with maturity date of March 31, 2022; acquisition date is December 1, 2021; P170,000 The correct balance of Cash and Cash Equivalents that should be presented in the Statement of Financial Position as of December 31, 2021 is [A] 12,722,700 [B] 12,714,700 [C] 12,214,700 [D] 12,222,700 [E] 7,714,700