You noted the following composition of Digos Company's "cash account" 2 points as of December 31, 2019 in connection with your audit: * You noted the following composition of Digos Company's "cash account as of December 31, 2019 in connection with your audit: Demand deposit account P2,000,000 Time deposit - 120 days 1,000,000 NSF check of customer 40,000 Money market placement (due June 30, 2020) 1,500,000 Savings deposit in a closed bank 100,000 IOU from employee 20,000 Pension fund 3,000,000 Petty cash fund 10,000 Customer's check dated January 1, 2020 50,000 Customer's check outstanding for 18 months 40,000 Total P7,760,000 1 Additional information follows: a) Check of P200,000 in payment of accounts payable was recorded on December 31, 2019 but mailed to suppliers on January 5, 2020. b) Check of P100,000 dated January 15, 2020 in payment of accounts payable was recorded and mailed on December 31, 2019. c) The company uses the calendar year. The cash receipts journal was held open until January 15, 2020, during which time P400,000 was collected and recorded on December 31, 2019. Question: The cash and cash equivalents to be shown on the December 31, 2019 balance sheet is OP3,310,000 O P1,910,000 P2,910,000 O P4.410,000