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On December 15, 2020, Mar Company established an imprest cash fund for P 10,000 by writing a check drawn against its general checking account. On December 31, 2020, the fund was replenished and contained the following:
Currencies and coins 3,000Receipt for office Supplies 4,000Receipt for postage (P500 is still unused) 2,000Receipt for transportation 600
On December 31, the company wrote a check to replenish the fund.
Problem 1: What is the petty cash fund balance to be reported in the statement of financial position as of December 31, 2020?
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