49. On December 31, 2016 Columbia Company shows the following data with respect to its matured obligation Notes Payable Accrued Interest Payable P 5,000,000 P 500,000 The company is threatened with a court suit if it could not pay its maturing debt. Accordingly, the company enters into an agreement with the creditor for the transfer of a non-cash asset in full settlement of the mortgage. The agreement provides for the transfer of real