Argentina Company reported the following accounts on December 31, 2020: Cash on hand Petty cash fund Security Bank current account PNB current account BDO current account (overdraft) BSP treasury bill - 120 days BPI time deposit - 90 days Bond sinking fund 1,000,000 50,000 2,000,000 1,500,000 (200,000) 3,000,000 2,000,000 2,500,000 The cash on hand included a customer-posted check of P150,000 and postal money order of P50,000. The BPI time deposit is set aside for the acquisition of land to be made in early January 2021. The bond sinking fund is set aside for payment of bond payable due December 31, 2021. Requirement: Compute the total amount of Cash and Cash equivalents that should be reported on December 31, 2020