On May 1, 2020, ABC Company purchased for P 6,000,000 a warehouse building and the land on which it is located. The following data were available concerning the property: Current Appraised Seller's Original Value Cost Land P 2,200,000 P1,800,000 Warehouse 3,300,000 3,000,000 Total P 5,500,000 P 4,800,000 At what amount should the land be recorded