> Question 68 2 pts The company purchased merchandise for P60,000 on November 1 on terms 20% down and the balance settled with a 60-day, 12% note. How much cash was paid by the company on December 31? O P49,200 P48,960 O P61,200 O P60,960 Question 67 2 pts On August 5, the company issued a P36,000 45-day 6% note for money borrowed. In the company's books on maturity date, the journal entry will involve a O Debit to Notes Payable for P36,270 Credit to Notes Payable for P36,270 O Credit to Notes Payable for P36,000 O Debit to Notes Payable for P36,000