What is the correct checkbook balance in Lanbank on December 31, 2020? *
 

Wanwan Company provided the following information with respect to cash and cashequivalents on December 31, 2020: Checking account at First Bank (200,000) Checking account at Second Bank 3,500,000 Treasury bonds 1,000,000 Payroll account 500,000 Value added tax account 400,000 Foreign bank account - unrestricted (in equivalent pesos) 2,000,000 Postage stamp 50,000 Employee's postdated check 300,000 IOU from president 750,000 Credit memo from vendor for a purchase return 80,000 Traveler's check 300,000 Not-sufficient-fund check 150,000 Petty cash fund (20,000 in currency and expense receipts for P30,000) 50,000 Money order 180,000 Checkbook balance in Landbank 5,000,000 The checkbook balance on Landbank had the following items: Check payable to Wanwan, dated January 2, 2021 in payment of a sale made in December 2020, not included i December 31, checkbook balance - P2,000,000 Check payable to Wanwan, deposited December 15 and included in December 31 checkbook balance, but returned by bank on December 30 stamped "NSF". The check was redeposited on January 2, 2021 and cleared on January 9, 2021 - P500,000 Check drawn on Wanwan's account, payable to vendor, dated and recorded in Wanwan's books on December 31, 2020 but not mailed until January 10, 2021.