Ramos Inc. was in need of cash. A short term loan applied for P100, 000 was approved by BPI Family Bank at 24% for 90 days. A check was Issued on November 2, 2013. Give the entries on November 2, December 31 end of the accounting period and on maturity date for both BPI Family Bank and Ramos, Inc. On July 1, 2014, Sunshine Co. sells equipment for P44, 000. The equipment originally cost P120, 000, had an estimated 5-year life and an expected residual value of P20, 000. The accumulated depreciation account has a balance of P70, 000 on January 1, 2014. How much is the gain or loss on disposal? Give the journal entry