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On October 20, 2016, Abraham Company consigned 40 freezers to Holden Company costing Php 14,000 each for sale at Php 20,000 each and paid Php

On October 20, 2016, Abraham Company consigned 40 freezers to Holden Company costing Php 14,000 each for sale at Php 20,000 each and paid Php 16,000 in transportation costs. On December 30, 2016, Holden reported the sale of 10 freezers and remitted Php 170,000. The remittance was net of the 15% commission. What should Abraham recognize as consignment sales revenue for 2016?

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