19. Haze Company provided the following information for 2012: January 1 Cash P 620,000 Accounts receivable 670,000 Merchandise inventory 860,000 Accounts payable 530,000 December 31 P? 900,000 780,000 480,000 The sales and cost of goods sold were P 7,980,000 and P 5,830,000, respectively. All sales and purchases were on credit. Various expenses of P 1,070,000 were paid in cash. There were no other pertinent transactions. What is the cash balance on December 31, 2012? A. P 1,090,000 B. P 1,500,000 C. P 2,570,000 D. P 3,050,000