The cash balance of Mendoza Company consists of the following on December 31,2020: Cash on hand, including stale check of P60,000 and postdated check of P30,000 Cash in bank, net of bank overdraft of P40,000 in a checking account with another bank Petty cash, including unreplenished receipts of P12,500 Savings deposits, earmarked for plant expansion What is the correct cash balance? P650,000 450,000 18,000 550,000

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