No. 1 - Cash and Cash Equivalents: On December 31, 2019, ABC Co. reported the following account balances: Cash on Hand P125,000 Cash in Bank-BPI 700,000 Cash in Bank-RCBC (Overdraft) (150,000) Cash in Bank-BDO 1,000,000 Cash in Bank-PNB 1.200,000 Cash in Bank-Rural Bank of Florida 780,000 Investment in Commercial Papers 500,000 Investment in SMC Ordinary Shares 300,000 Petty Cash Fund 10,000 Additional information: 1. Cash on hand is composed of the following: Currencies and coins P 25,000 Postal money orders 30,000 Customer's check dated December 31, 2019 20,000 Customer's check dated January 5, 2020 50.000 Total 125.000 2. The cash in bank-BPI is a checking account which includes a P100,000 compensating balance in relation to a short-term loan. ABC Co. is legally required to maintain a minimum deposit balance of P100,000. In addition, P200,000 creditors' checks prepared and recorded on December 30, 2019 are still in the company's vault as of December 31, 2019. 3. The cash in bank-RCBC is a checking account where withdrawals have exceeded the deposits. 4. The cash in bank-BDO is a savings account which has been set aside for the payment of a bank loan which is due on May 31, 2020 5. The cash in bank-PNB is a time despite account which was placed with the bank on April 1, 2019 and will mature on March 31, 202