Question 62 2 pts The company borrowed P4,000,000 loan from a bank to finance the acquisition of another land for use in company operations. The company signed a promissory note in favor of the bank and made the title of the owner's existing land and building valued at P3,000,000 as collateral. As a result of this transaction, how much was the increase in the company's total assets and total liabilities? O P4,000,000 in total assets and P4,000,000 in total liabilities O P1,000,000 in total assets and P4,000,000 in total liabilities O P1,000,000 in total assets and P1,000,000 in total liabilities OP4,000,000 in total assets and P1,000,000 in total liabilities D Question 61 2 pts In 2020, the company incurred a loss of P220,000 due to lockdowns brought about by the pandemic. The owner's capital balance at the end of 2020 was P350,000, while the owner withdrawals amounting to P80,000 during the year. What was the owner's capital balance at the beginning of 2020? P50,000 O P650,000 2490,000 O P210,000