29.On December 1, 2017, ABC Company assigned P400, 000 of accounts receivable to DEF Company as a security for a loan of P335, 000. ABC Company charged a 2% commission on the amount of the loan; the interest rate on the loan was 10%. During December, ABC collected P110, 000 on assigned accounts after deducting P380 of discounts. ABC accepted returns worth P1,350 and wrote-off assigned accounts totalling P2, 980

How much cash did ABC receive from DEF at the time of transfer?

• P335, 000
• P301, 500
• P328, 300
• P327, 000
• Answer not given