undefined

Worldwide Company was authorized to issue 10,000 preference shares of P200 par value and 100,000 ordinary shares of P20 par value. Subscription for 4,000 preference shares was received at P218 per share with a down payment of 30%. The balance is payable after 60 days. (do not use 1. Assuming after 60 days, only subscribers of 2,000 preference share paid the balance, the entry to record the collection includes a debit to Cash at peso sign, comma, or decimal)