Problem 24 On October 1, 2019, Boron Company declared a property dividend of machinery payable on April 1, 2020. The carrying amount of the machinery is P4,000,000 on October 1, 2019. The fair value of the machinery on the relevant dates are as follows: October 1, 2019 P3,800,000 December 31, 2019 3,700,000 April 1, 2020 3,500,000 Required: Prepare journal entries for 2019 and 2020 in connection with the property dividend