1 point ABC Co. records all disbursements using nominal accounts. On December 31, 20x1, ABC Co. has total expenses of P3,500,000 before considering the following: Advertisement costs paid during December 20xl totaled P50,000. The advertisement was aired on TV on January 5, 20x2. A two-year insurance on assets was obtained on July 1, 20x1 for P96,000. On July 15, 20x1, ABC Co. entered into an operating lease requiring monthly payments of P240,000 starting on the date of the lease contract and every 15 th of the month thereafter. Office supplies expense has a balance of P80,000. The physical count of office supplies revealed a balance of P60,000 How much is the adjusted total expenses? . Nour