YY Corporation has two branches to which merchandise is transferred at cost plus $20\%,$ plus

freight charges. On November $30,2024,$ YY Corporation shipped merchandise that cost

P$5,500$ to its CC Branch, and the P$200$ shipping charges were paid by YY Corporation. On

December $15,2024,$ the DD Branch encauntered an inventory shortage, and the CC Branch

shipped the merchandise to the DD Branch at a freight cost of P$160$ paid by the CC Branch.

Shipping charges from the home office to the DD Branch would have been P$175.$

Prepare the journal entries of home office and branches.