Problem 14-1 (AICPA Adapted) Campbell Company had the following account balances on December 31, 2019: The petty cash fund included unreplenished December 2019 petty cash expense vouchers P5,000 and employee IOU P5,000. The cash on hand included a P100,000 customer check payable to Campbell dated January 15, 2020. In exchange for a guaranteed line of credit, the entity has agreed to maintain a minimum balance of P200,000 in the unrestricted current bank account. The sinking fund is set aside to settle a bond payable that is due on December 31, 2020. What total amount should be reported as cash and cash equivalents on December 31, 2019? a. 8,640,000 b. 7,440,000 c. 7,640,000 d. 5,640,000 On December 31, 2019, Erik Company reported cash account balance per ledger of P9,500,000 which included the following: * Check of P100,000 in payment of accounts payable was dated and recorded on December 31, 2019 but mailed to creditors on January 15, 2020. * Check of P300,000 dated January 31, 2020 in payment of ' accounts payable was recorded and mailed December 31, 2019. * The cash receipts journal was held open until January 15, 2020, during which time P200,000 was collected and recorded on December 31, 2019. What total amount should be reported as cash and cash equivalents on December 31, 2019? a. 4,700,000 b. 6,700,000 c. 4,900,000 d. 5,100,000 On December 31, 2019, what total amount should be reported as cash and cash equivalents? a. 7,600,000 b. 8,200,000 c. 6,050,000 d. 8,050,000