The following balances are extracted from the records of VKS Corporation as of December 31, 2021: · Commercial savings account, DVD- P1,500,000 · Commercial checking account, DVD- P1,800,000 · Travel advances for executive travel for the 1st quarter of 2022 (employee to reimburse through salary deduction)- P375,000 · Cash fund for retirement of long-term debt- P2,000,000 · Petty cash fund- P20,000 · I.O.U. from an officer- P50,000 · Bank overdraft, BPI- P450,000 · Certificates of deposits, maturity of 120 days acquired on December 1, 2021- P3,000,000 · Check received from customer dated January 2, 2022- P175,000 · Maintaining balance at DVD to ensure future credit availability- P200,000 · Currency and coin on hand not yet deposited - P25,000 How much will be reported as cash and cash equivalents on December 31, 2021?
The following balances are extracted from the records of VKS Corporation as of December 31, 2021:
· Commercial savings account, DVD- P1,500,000
· Commercial checking account, DVD- P1,800,000
· Travel advances for executive travel for the 1st quarter of 2022 (employee to reimburse through salary deduction)- P375,000
· Cash fund for retirement of long-term debt- P2,000,000
· Petty cash fund- P20,000
· I.O.U. from an officer- P50,000
· Bank overdraft, BPI- P450,000
· Certificates of deposits, maturity of 120 days acquired on December 1, 2021- P3,000,000
· Check received from customer dated January 2, 2022- P175,000
· Maintaining balance at DVD to ensure future credit availability- P200,000
· Currency and coin on hand not yet deposited - P25,000
How much will be reported as cash and cash equivalents on December 31, 2021?
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