The Vigan Company included the following in its notes receivable as of December 31, 2020: Note receivable from sale of land Note receivable from consultation Note receivable from sale of equipment P 880,000 1,200,000 1,600,000 In connection with your audit, you were able to gather the following transactions during 2020 and other information pertaining to the company's notes receivable : On January 1, 2020, Vigan Company sold a tract of land. The land, purchased 10 years ago, was carried on Vigan Company's books at a value of P500,000. Vigan received a noninterest-bearing note for P880,000. The note is due on