7. Following were the account balances of Born Company at December 31, 2020: P 187,500 3,375,000 Cash on hand Cash in current and savings accounts Cash set aside for plant expansion (expected for payment in 2021) 2,400,000 Cash in current and savings accounts includes P900,000 as holdout against short-term loan arrangements. There are no legal restrictions as to withdrawal by Born on these holdouts. What is the total cash that should be reported in the current assets section of Born's December 31, 2020 statement of financial position? a. P2,662,500 C. P3,562,500 b. P3,375,000 d. P5,962,500