JJ is a real estate dealer. During the month of October 2018, he sold three (3) commercial lots under the following terms:

Selling Price Cost Gain/loss Terms: Down, Oct. 5 Due: 12/05/2018 Year 2019 Zonal Value

Lot 1

P 250,000

150,000 P 100,000

25,000

25,000 200,000 350,000

Lot 2

P 200,000

130,000 P 70,000

20,000

50,000 130,000 260,000

Lot 3

P 300,000

175,000 P 125,000

40,000

20,000 240,000 250,000

How much is the output tax for the month of October?

a. P 26,500 b. 34,800

14. The Output tax for December is a. P5,400

b. 4,500