PCU Corporation's checkbook balance on December 31, 2020 was P160,000. On the same date, PCU held the following items in its safe: A P5,000 check payable to PCU, dated January 2, 2021, was not included in the December 31 checkbook balance. A P3,500 check payable to PCU which was deposited December 19 and included in the December 31 checkbook balance, was returned by the bank on December 30 marked NSF. The check was re-deposited on January 2, 2021 and cleared on January 9. A P25,000 check payable to a supplier and drawn on PCU's account, was dated and recorded on December 31, but was not mailed until January 19, 2021. In its December 31, 2020 statement of financial position, how much should PCU report as cash? a. P156,600 b. P181,500 C. P161,500 d. P185,000