On December 31, 2019, the branch manager of Jenna Company in Iloilo City submitted the following data to the home o ce in Manila: Petty cash fund P6,000; Sales 390,000; Shipments from home o ce 270,000; Accounts receivable, January 1 86,000; Inventory, January 1 74,000; Inventory, December 31 82,000; Expenses 96,000. All cash collected on accounts receivable amounting to P378,000 were remitted to the home o ce. What is the balance of the Home o ce account on January 1, 2020? P270,000 P166,000 P186,000 P88,000