Lala Company reported the following information in relation to cash on December 1, 2020

-Checkbook balance, P2,000,000

-Undeposited collections, P200,000

-Customer check amounting to P100,000 dated January 2, 2021 was included in the December 31, 2020 checkbook balance.

-Another customer check for P250,000 deposited on December 22, 2020 was included in the checkbook balance but returned by the bank for insufficiency of fund. This check was redeposited on December 26, 2020 and cleared 2 days later.

-A P200,000 check payable to supplier dated and recorded on December 30, 2020 was mailed on January 16, 2021

-A petty cash fund of P25,000 comprised the following on December 31, 2020:

Coins and currencies P2,500

Petty cash vouchers P20,000

Refundable deposit for returnable containers P2,500

-A check of P20,000 was drawn for December 31, 2020 payable to petty cashier.

What total amount should be reported as Cash on December 31, 2020?

• 2,422,500
• Answer not given
• 2,322,500
• 2,300,000
• 2,325,000