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15. Elysee Company was incorporated on January 1 of the current year by issuing share capital with par value of P50,000,000 for P60,000,000. Land and
15. Elysee Company was incorporated on January 1 of the current year by issuing share capital with par value of P50,000,000 for P60,000,000. Land and building were purchased for P25,000,000 with a downpayment of P10,000,000. A one-year note was signed for the remainder. A check was written for P4,500,000 to pay for equipment. A check of P1,500,000 was written to acquire software. One piece of computer equipment was sold at the original price and the cash collected was deposited in the entity's checking account. The balance of the checking account on January 31 was P45,000,000. What is the sale price of the computer equipment? a. 3,000,000 b. 1,500,000 c. 1,000,000 d. 2,000,000
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