4.Selected balances from the Cebu Company's Branch A and B are as follows:

Inventory, Jan. 1, 2010..................................................................

Imprest Branch Fund..............................................................................

Inventory, Dec. 31, 2010...............................................................

A/Receivable, Jan. 1, 2010.........................................................

Merchandise from Home Office...................................................

A/Receivable, Dec. 31, 2010......................................................

Cash Collections.......................................................................................

Sales........................................................................................................................

Cash Expenses................................................................................................

Branch A

P21,000

2,000

19,000

55,000

61,000

70,000

85,000

100,000

21,000

Branch B

P19,000

1,500

12,000

43,500

47,000

53,500

70,000

80,000

14,300

All sales, collections, and expenses are handled at the branch. All cash received from sales and collections are sent directly to the Home Office. Expenses are paid by the branch from the imprest fund and immediately reimbursed by the Home Office and credited to the Home Office account. All expenses paid by the branch are recorded in the books of the branch. Compute the balance of the Home Office account on January 1, 2010.

Branch A

Books

Branch B

Books

A.

P78,000

P67,000

B.

75,000

64,000

C.

64,000

78,000

D.

78,000

64,000