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Garfield Company had the following cash balances at December 31, 2020: Undeposited coin and currency P 35,000 Unrestricted demand deposit 1,450,000 Company checks written (and

Garfield Company had the following cash balances at December 31, 2020:

Undeposited coin and currency

P

35,000

Unrestricted demand deposit

1,450,000

Company checks written (and deducted from the demand deposits amount) but not scheduled to be mailed until January 2

180,000

Time deposits restricted for use (expected use in 2021)

3,000,000

In exchange for a guaranteed line of credit, Garfield has agreed to maintain balance of P 150,000 in its unrestricted demand deposit account.

How much should Garfield report Cash in its December 31, 2020, statement of financial position?

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