On January 1, 2021 the shipments to branch account in the Home office should have an opening balance of

The following information will be used for the next three questions PBB corporation has operated a branch in Kuwait for one year. Shipments are billed to the branch at cost. The branch carries its own accounts receivable, makes its own collections, and pays its own expenses. The transactions for the year are given effect to in the trial balance below: Accounts Debit Credit Cash P4.200 Home Office Current P17,500 ch Shipments from Home Office 67,680 5 Accounts receivable 12,800 Expenses 6,820 Sales 74.000 Total P91,500 P91,500 The branch reported an inventory on December 31, 2020 of P9.180. On January 1, 2021, the Shipments to Branch account in the Home Office should have an opening balance of