P-14 On December 31, 2012, Jacinto Steel Inc., sold construction equipment to Anthony Company for P3,600,000. The equipment had cost of P2,400,000. Anthony Company paid P600,000 cash on December 31,2012 and signed P3,000,000 note bearing interest at 10 percent payable in five annual installments of P600,000. Jacinto Steel Inc. appropriately accounted for the sale under the installment method. On December 31, 2013, Anthony paid P900,000 including interest of P300,000. For the year ended December 31,2013, what total amount of revenue should Jacinto Steel Inc., recognized from construction equipment sale financing? a. P300,000 b. P200,000 C. P500,000 d. P240,000