Daddy Company is preparing its December 31, 2019 financial statements. The following information was gathered:

The bill for Decembers utility cost of P30,000 was received and paid on January 10, 2020.

A P20,000 advertising bill was received on January 2, 2020. Of the total billing, P15,000 pertain to advertisements in December 2019 and P5,000 pertain to advertisements in January 2020.

A lease, effective December 16, 2018, calls for a fixed rent of P100,000 per month, payable one month after the commencement of the lease and every month after thereafter. In addition, rent equal to 5% of net sales over P1,000,000 per year is payable on January 31 of the following year.

Total cash sales and collections on accounts amounted to P1,000,000. Accounts receivable has a net increase of P200,000. Commissions of 15% of sales are paid on the same day cash is received from customers.

QUESTION:

What is the accrued liabilities on December 31, 2019?