You noted the following composition of Malabon Company's "cash account" as of December 31, 2006 in connection with your audit: Demand deposit account Time deposit - 30 days NSF check of customer Money market placement (due June 30, 2007) Savings deposit in a closed bank IOU from employee Pension fund Petty cash fund Customer's check dated January 1, 2007 Customer's check outstanding for 18 months Total P2,000,000 1,000,000 40,000 1,500,000 100,000 20,000 3,000,000 10,000 50,000 40,000 P7,760,000 Additional information follows: a) Check of P200,000 in payment of accounts payable was recorded on December 31, 2006 but mailed to suppliers on January 5, 2007. b) Check of P100,000 dated January 15, 2007 in payment of accounts payable was recorded and mailed on December 31, 2006. c) The company uses the calendar year. The cash receipts journal was held open until January 15, 2007, during which time P400,000 was collected and recorded on December 31, 2006. Question: The cash and cash equivalents to be shown on the December 31, 2006 balance sheet is