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Islander Company provided the following information with the respect to the cash and cash equivalentson...

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Accounting

Islander Company provided the following information with the respect to the cash and cash equivalentson December 31, 2019.

Checking account at XYZ Bank

(200,000)

Checking account at ABC 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 stamps

50,000

Employee's postdated check

300,000

IOU from president

750,000

Traveler's check

300,000

NSF customer check

150,000

Petty cash fund - comprising P20,000 in currency and expenses

receipts for P30,000

50,000

Money order

180,000


What amount should be reported as unrestricted cash on December 31, 2019?

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