Problem 1. Qiqi Co. have the following account balances relating to cash and cash equivalents as of December 31, 2021:

CIB BPI Current 500,000

CIB BDO Checking 600,000

CIB BDO Current (150,000)

CIB Land Bank Current (30,000)

CIB Foreign Account 130,000

Cash on hand 700,000

Money Market Accounts 200,000

2-month time deposit 50,000

Commercial Papers, acquired 11/31/2021, maturing 01/15/2022 60,000

Additional information was gathered as follows:

a. The balance in foreign account is legally restricted.

b. CIB BPI Current has a 20,000 compensating balance and is legally restricted.

c. A Php25,000 check was drawn from CIB BDO Checking for the payment of the companys purchases.The check is still on the custodians drawer as of December 31, 2021.

d. A Php36,000 check dated 01/31/2022 payable to the companys CIB BPI Current was received and recorded on 12/15/2021.

How much should be reported as cash and cash equivalents on Qiqi Co.s December 31, 2021 statement of financial position?