In connection with your audit of the financial statement of Pag As Company for the year ended December 31,2010, you obtained the following Information from the company's voucher register Item No. Date Recorded Particulars Amount Account debited 1 12/29/2010 Merchandise-shipped 12/23/10. FOB destination Received 1/2/2011 38.000 Inventory 01/04/2011 Merchandise-shipped 12/29/10. FOB shipping Point received 1/3/2011 22.000 Inventory 2 The journal entry to adjust the company's accounts payable as of December 31.2010, should be Net credit to accounts payabio of P16.000 Debit to accounts payable of P38.000 Credit to accounts payable at P22.000 Net debit to accounts payable of P16.000 Next E You Eric Owen In connection with your audit of the financial statement of Pag Asa Company for the year ended December 31,2010, you obtained the following information from the company's voucher register Item No. Date Recorded Particulars Amount Account debited 1 12/29/2010 Merchandise-shipped 12/23/10, FOB destination Received 1/2/2011 38,000 Inventory 01/04/2011 Merchandise-shipped 12/29/10, FOB shipping Point; received 1/3/2011 22,000 Inventory 2 The journal entry to adjust the company's accounts payable as of December 31,2010, should be Net credit to accounts payable of P16.000 Debit to accounts payable of P38,000 Credit to accounts payable of P22.000 Net debit to accounts payable of P16,000