Armenia Company reported the following information on December 31, 2020 Cash on hand 1,000,000 Petty cash fund 50,000 Cash in bank 4,000,000 Savings deposit 2,000,000 7,050,000 Cash on hand included the following: The bank returned a customer check of P100,000 last December 26, 2020, due to insufficient funds. The check was subsequently redeposited and cleared by the bank on January 5, 2021. Customer check for P150,000 dated January 15, 2021, received last December 22, 2020. Postal money orders received from customers, P200,000. A check was written last December 22, 2020, and delivered to payee on January 5, 2021, P200,000. A check was written last December 25, 2020 and dated January 31, 2021 delivered to payee on December 26, 2020, P300,000. Compute for the total cash