A receiver, R. Santos has been appointed for Nielsen enterprises which is being liquidated. The following was prepared at the beginning of the liquidation on proceeding of May 1, 2015: Cash Marketable Securities Accounts Receivables Allowance for Uncollectibles Inventory Goodwill Land Plant and Equipment (net) Accounts Payable Notes Payable Interest Payable 10% Mortgage Payable Share Capital (P10 par) Retained Earnings (deficit) Total 30,000 12,000 36,000 3,000 33,000 50,000 16,000 40,000 110,000 291,000 95,000 35,000 8,000 80,000 218,000 150,000 (77,000) 73,000 291,000 The following transactions occurred when the firm was under the receiver's care: 1. The goodwill was written off 2. The assets were transferred to the receiver 3. The receiver purchased inventory of P124,000 on account. 4. Sales on account by the receiver were P190,000. Cost of goods sold amounted to P100,000 including all the inventory transferred from Neilson. 5. Disbursements by receiver: Old current payables New Current payables Operating expenses Receiver's expenses 73,000 9,000 15,000 6,000