Medroso's accounts payable as of Decemeber 31, 2020 totaled P1,600,000 before any necessary adjustments relating to the following transactions:

1. On December 27, 2020, Medroso wrote and recorded checks to creditors totalling P700,000 causing an overdraft of P200,000 in Medroso's bank account at December 31,
2. On December 28, 2020, Medroso purchased and received goods for P300,000, terms

2/10, n/30. Medroso records purchases and accounts payable using the gross method. The

3. Goods shipped FOB Destination with invoice price of P127,800 were received and paid on January 1, 2020.
4. The P1,600,00 balance includes a debit balance of P30,000

1. How much is the accounts payable of Medroso as of December 31, 2020?

Bugs Appliance Company's accountant has been reviewing the firm's past television sales. For the past years, Bugs has been offering a special service warranty on all televisions sold. With the purchase of a television, the customer has the right to purchase a 3-years service contract for an extra P600

Information concerning past television and warranty contract sales is given below:

	2020	2019
Television sales in units	550	460
Sales price per unit	5,000	4,000
Number of service contracts sold	350	300
Expenses relating to television warranties	38,520	13,400

Bugs Accountant has estimated from past records that the pattern of sales has been 40% in the year of sale, 36% on the first year after sale and 24% on the 2nd year of sale. Sales of the contracts are made evenly during the year.

1. How much is the revenue earned in 2020 pertaining to 2019 sales?

How much is the balance of the unearned revenue as of December 31, 2020