Maxim Company sold its inventory for P600,000 to Maxwell on January 2, 20x8 and received a one-year note bearing an interest rate of 12% for the full amount. On December 31, 20x8, Maxim determined based on Maxwells recent financial crisis, theres a delay and change in the pattern shows that P300,000 will be collected on December 31, 20x9 and P200,000 will be due on December 31, 20x10 and P172,000 on December 31, 20x11. What amount of impairment loss should Maxwell Company recognize on December 31, 20x8? A. None B. P50,278 C. P122,278 D. P136,701 Kindly Show the Solution based on the "highlighted answer"