The following accounts were included in the unadjusted trial balance of SUSMARYO SEP Company as of December 31, 2017:

Cash P 481,600

Accounts receivable 1,127,000

Inventory 3,025,000

Accounts payable 2,100,500

Accrued expenses 215,500

During your audit, you noted that SUSMARYO SEP held its cash books open after year-end. In addition, your audit revealed the following:

1. Receipts for January 2018 of P327,300 were recorded in the December 2017 cash receipts book. The receipts of P180,050 represent cash sales and P147,250 represent collections from customers, net of 5% cash discounts.

2. Accounts payable of P186,200 was paid in January 2018. The payments, on which discounts of P6,200 were taken, were included in the December 2017 check register.

3. Merchandise inventory is valued at P3,025,000 prior to any adjustments. The following information has been found relating to certain inventory transactions.

a. Goods valued at P137,500 are on consignment with a customer. These goods are not included in the inventory figure.

b. Goods costing P108,750 were received from a vendor on January 4, 2018. The related invoice was received and recorded on January 6, 2018. The goods were shipped on December 31, 2017, terms FOB shipping point.

c. Goods costing P318,750 were shipped on December 31, 2017, and were delivered to the customer on January 3, 2018. The terms of the invoice were FOB shipping point. The goods were included in the 2017 ending inventory even though the sale was recorded in 2017.

d. A P91,000 shipment of goods to a customer on December 30, terms FOB destination are not included in the year-end inventory. The goods cost P65,000 and were delivered to the customer on January 3, 2018. The sale was properly recorded in 2018.

e. The invoice for goods costing P87,500 was received and recorded as a purchase on December 31, 2017. The related goods, shipped FOB destination were received on January 4, 2018, and thus were not included in the physical inventory.

f. Goods valued at P306,400 are on consignment from a vendor. These goods are not included in the physical inventory.

Based on the above and the result of your audit, determine the adjusted balances of the following as of December 31, 2017:

17. CashA. 481,600 B. 340,500 C. 334,300 D. 346,700

18. Accounts receivableA. 1,454,300 B. 1,282,000 C. 1,127,000 D. 1,274,250

19. InventoryA. 3,017,500 B. 3,040,000 C. 2,930,000 D. 2,505,000

20. Accounts payable A. 2,395,450 B. 2,307,950 C. 2,286,500 D. 2,301,750

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