An entity reported accounts payable on December 31, 2017 at P4,500,000 before any necessary year-end adjustments to the following transactions: On December 27, 2017, the entity wrote and recorded checks to creditors totaling P2,000,000. The checks were mailed on January 10, 2018. On December 28, 2017, the entity purchased and received goods for P750,000, terms 2/10,n/30. The invoice was recorded and paid on January 3, 2018. Goods shipped FOB destination on December 30, 2017 from a vendor to the entity were received January 15, 2018. The invoice cost was P325,000. On December 31, 2017, what amount should be reported as accounts payable