B- Habiba Company has a single branch in Southwest. On March 1, 2020, the home ofce accounting records included an Allowance for Overvaluation of Inventories: Southwest Branch ledger account with a credit balance of $32,000. During March, the following transactions occurred: On March 4, the home office shipped merchandise costing $66,000 to the Southwest Branch and billed it at a price representing a 25% markup on the billed price. On March 8, the branch sold 70% of the merchandise received from the home office on March 4 for $90,000 cash. On March 15, the branch sold 20% of the merchandise received from the home office on March 4 to Hope company for $30,000 on credit. On March 22, the home office informed the branch that it had collected 50% of the amount owed by Hope company. On March 28, the branch paid operating expenses of $10,000 cash. On March 29, Hope company paid the remaining amount due to Southwest branch, On March 30, the home office allocated operating expenses of $4,000 to the branch