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The cash account in the current asset section of the December 31, 2015 balance sheet of King Company consists of: Cash in Banks Cash

The cash account in the current asset section of the December 31, 2015 balance sheet of King Company consists of: Cash in Banks Cash restricted for additions to plant (expected to be disturbed in 2012) Petty cash funds (all funds were replenished on December 31, 2010) P2,250,00 0 3,000,000 30,000 Included in the cash in banks is a compensating balance of P750,000 against short-term borrowing arrangements at December 31, 2015. The compensating balance is not legally limited as to withdrawal by King Company. What is the correct cash balance of King Company at December 31, 2015?

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