Question 28 1.5 pts In May 2020, Eight Company filed suit against Wade Company seeking P1,800,000 damages for patent infringement. A court verdict in November 2020 awarded Eight Company P2,500,000 in damages, but Wade Company's appeal is not expected to be decided before 2021. The legal counsel believed it is probable that Eight Company will be successful against Wade Company for an estimated amount in the range between P800,000 and P1, 100,000, with P1,000,000 considered the most likely amount. What amount should Eight Company record as income from the lawsuit for the year ended December 31, 2020? Question 29 1.5 pts Our Cur ) Hotel de Luna collects 12% in city sales taxes on room rentals, in addition to a P250; per room, per night, occupancy tax. Sales taxes for each month are due at the end of the following month, and occupancy taxes are due fifteen days after the end of each calendar quarter. On January 3, 2021, the entity paid the November 2020 sales taxes and the fourth quarter 2020 occupancy taxes. Additional information for the fourth quarter of 2020 is as follows: Room rentals Room nights 1,500,000 1,100 October November 2,500,000 1,500 1,800 December 1,700,000 What amount should be on December 31, 2020 as 1. Sales taxes payable 2. Occupancy taxes payable (Put your answer to problem 2 in the answer box of the question 30). . Question 30 1.5 pts Occupancy taxes payable Question 31 1.5 pts Last company has the following information: Our Accounts payable and accrued interest = 1,000,000 12% note payable issued November 1, 2013 maturing July 1, 2015 = 2,000,000 10% debentures payable, next annual principal installment of P500,000 due February 1, 2015 = 7,000,000 On December 31, 2014, the entity consummated a noncancelable agreement with the lender to refinance the 12% note payable on a long-term basis. On December 31, 2014, what total amount should be reported as current liabilities