Comprehensive Problem

Listed below are the Feb. 1, 2013 account balances of the Teresita Buenaflor Company:

Debit Credit
110 Cash 33,000
120 Accounts Receivable 192,000
130 Merchandise Inventory 413,000
140 Supplies 51,000
150 Prepaid Insurance 48,000
160 Land 460,000
170 Building 1,750,000
175 Accumulated Depreciation - Building 350,000
180 Equipment 2,310,000
185 Accumulated Depreciation - Equipment 630,000
210 Accounts Payable 108,000
220 Salaries Payable
230 Mortgage Payable 2,600,000
310 Buenaflor, Capital 1,569,000
320 Buenaflor, Withdrawals
330 Income Summary
410 Sales
420 Sales Returns and Allowances
430 Sales Discounts
510 Purchases
520 Purchase Returns and Allowances
530 Purchase Discounts
540 Transportation In
610 Salaries Expense
620 Supplies Expense
630 Insurance Expense
640 Depreciation Expense - Building
650 Depreciation Expense - Equipment
660 Transportation Out
670 Advertising Expense
680 Interest Expense
690 Miscellaneous Expense
5,257,000 5,257,000

During the month of February 2013, the following transactions occurred:

Feb. 1 Collected P113,000 from customers on account

2 Paid P64,000 of accounts due less discounts of 3%
4 Purchased merchandise, P170,000. Terms: FOB shipping point; 3/10, n/30
5 Sold merchandise on account to Gonzales Company, P270,000. Terms: FOB shipping
point; 2/10, n/30
 7 Paid for advertising for the month of February, P6,000
7 Sold merchandise for cash, P250,000
8 Paid the amount due from the Feb. 4 transaction
9 Paid Iloilo freight P4,000 for delivering merchandise last Feb. 4
10 Received returns from the Gonzales Company , P70,000
12 Received payment from the Gonzales Company less returns and discounts
14 Paid P26,000 interest on the mortgage payable
15 Paid salaries, P51,000
16 Sold merchandise on account to Ronzales Company, P392,000. Terms: FOB destination;
2/10, n/30
18 Paid P4,000 freight charges on the sale of Feb. 16
19 Acquired supplies for cash, P21,000
20 Purchased P125,000 of merchandise from Lozada Company on account. Terms:
FOB destination; 3/10, n/30
22 Paid P7,000 miscellaneous expenses
23 Received payment from Ronzales Company less discounts
24 Purchased P373,000 of merchandise on account from Agustin Company. Terms: FOB
shipping point; 3/10, n/30
24 Paid La Paz Express P9,000 freight for delivering merchandise acquired from Agustin
25 Sold merchandise to Ronzales Company on account, P420,000. Terms: FOB shipping
point; 2/10, n/30
26 Received returns from Ronzales Company, P71,000
28 Buenaflor withdrew P400,000 from the business
28 Returned merchandise purchased from Agustin on Feb. 24, P25,000
28 Salaries in the amount of P51,000 have accrued
28 Insurance coverage with premiums of P2,000 has expired at month-end
28 Depreciation on the building and on the equipment for the month amounted to
P9,000 and P12,000 respectively
28 Supplies on hand amounted to P14,000
28 A count of the merchandise inventory amounted to P397,000

Required:
1 Post the Feb. 1, 2013 account balances to the ledger accounts.
2 Record the transactions for the month of February in a journal and post the
transactions to the ledger.
3 Prepare a Trial Balance
4 Prepare a Statement for Performance, Statement of Changes in Owner's Equity,
Statement of Financial Position and Statement of Cash Flow
5 Prepare the closing entries for the month
6 Post the closing entries to the ledger accounts.
7 Prepare a Post-closing Trial Balance.
 General Journal
Date Account Code Particulars Debit

2/1/2013 110 Cash 113,000

2/1/2013 120 Accounts Receivable
#
2/2/2013 210 Accounts Payable 64,000
2/2/2013 110 Cash
2/2/2013 530 Purchase Discounts
#
2/4/2013 510 Purchases 170,000
2/4/2013 210 Accounts Payable
#
2/5/2013 120 Accounts Receivable 270,000
2/5/2013 410 Sales
#
2/7/2013 670 Advertising Expense 6,000
2/7/2013 110 Cash
#
2/7/2013 110 Cash 250,000
2/7/2013 410 Sales
#
2/8/2013 210 Accounts Payable 170,000
2/8/2013 530 Purchase Discounts
2/8/2013 110 Cash
#
2/9/2013 540 Transportation In 4,000
2/9/2013 110 Cash
#
2/10/2013 420 Sales Returns and Allowances 70,000
2/10/2013 120 Accounts Receivable
#
2/12/2013 110 Cash 196,000
2/12/2013 430 Sales Discount 4,000
2/12/2013 120 Accounts Receivable
#
2/14/2013 680 Interest Expense 26,000
2/14/2013 110 Cash
#
2/15/2013 610 Salaries Expense 51,000
2/15/2013 110 Cash
#
2/16/2013 120 Accounts Receivable 392,000
2/16/2013 410 Sales
#
2/18/2013 660 Transportation Out 4,000
2/18/2013 110 Cash
#
2/19/2013 140 Supplies 21,000
2/19/2013 110 Cash
#
2/20/2013 510 Purchases 125,000
2/20/2013 210 Accounts Payable
#
2/22/2013 690 Miscellaneous Expenses 7,000
2/22/2013 110 Cash
#
2/23/2013 110 Cash 384,160
2/23/2013 430 Sales Discount 7,840
2/23/2013 120 Accounts Receivable
#
2/24/2013 510 Purchases 373,000
2/24/2013 210 Accounts Payable
#
2/24/2013 540 Transportation In 9,000
2/24/2013 110 Cash
#
2/25/2013 120 Accounts Receivable 420,000
2/25/2013 410 Sales
#
2/26/2013 420 Sales Returns and Allowances 71,000
2/26/2013 120 Accounts Receivable
#
2/28/2013 320 Buenaflor, Withdrawals 400,000
2/28/2013 110 Cash
#
2/28/2013 210 Accounts Payable 25,000
2/28/2013 520 Purchase Returns and Allowances
#
2/28/2013 610 Salaries Expense 51,000
2/28/2013 220 Salaries Payable
#
2/28/2013 630 Insurance Expense 2,000
2/28/2013 150 Prepaid Insurance
#
2/28/2013 640 Depreciation Expense - Building 9,000
2/28/2013 175 Accumulated Depreciation - Building
#
2/28/2013 650 Depreciation Expense - Equipment 12,000
2/28/2013 185 Accumulated Depreciation - Building
#
2/28/2013 620 Supplies Expense 58,000
2/28/2013 140 Supplies
 #
3,765,000

Closing Entries
Date Account Code Particulars Debit

2/28/2013 330 Income Summary 413,000

2/28/2013 130 Merchandise Inventory - Beginning
#
2/28/2013 130 Merchandise Inventory - Ending 397,000
2/28/2013 330 Income Summary
#
2/28/2013 330 Income Summary 1,059,840
2/28/2013 420 Sales Returns and Allowances
2/28/2013 430 Sales Discounts
2/28/2013 510 Purchases
2/28/2013 540 Transportation In
2/28/2013 610 Salaries Expenses
2/28/2013 620 Supplies Expense
2/28/2013 630 Insurance Expense
2/28/2013 640 Depreciation Expense - Building
2/28/2013 650 Depreciation Expense - Equipment
2/28/2013 660 Transportation Out
2/28/2013 670 Advertising Expense
2/28/2013 680 Interest Expense
2/28/2013 690 Miscellaneous Expense
#
2/28/2013 410 Sales 1,332,000
2/28/2013 520 Purchase Returns and Allowances 25,000
2/28/2013 530 Purchase Discounts 7,020
2/28/2013 330 Income Summary
#
2/28/2013 330 Income Summary 288,180
2/28/2013 310 Buenaflor, Capital
#
2/28/2013 310 Buenaflor, Capital 400,000
2/28/2013 320 Buenaflor, Withdrawals
#
3,922,040
Credit

113,000

62,080
1,920

170,000

270,000

6,000

250,000

5,100
164,900

4,000

70,000

200,000

26,000

51,000

392,000
 4,000

21,000

125,000

7,000

392,000

373,000

9,000

420,000

71,000

400,000

25,000

51,000

2,000

9,000

12,000

58,000
 3,765,000

Credit

413,000

397,000

141,000
11,840
668,000
13,000
102,000
58,000
2,000
9,000
12,000
4,000
6,000
26,000
7,000

1,364,020

288,180

400,000

3,922,040
 Cash
Date Particulars Ref
2/1/2013 Beginning Balance
2/1/2013
2/2/2013
2/7/2013
2/7/2013
2/8/2013
2/9/2013
2/12/2013
2/14/2013
2/15/2013
2/18/2013
2/19/2013
2/22/2013
2/23/2013
2/24/2013
2/28/2013

Accounts Receivable
Date Particulars Ref
2/1/2013 Beginning Balance
2/1/2013
2/5/2013
2/10/2013
2/12/2013
2/16/2013
2/23/2013
2/25/2013
2/26/2013

Merchandise Inventory
Date Particulars Ref
2/1/2013 Beginning Balance
2/28/2013 Closing
2/28/2013 Closing

Supplies
Date Particulars Ref
 2/1/2013 Beginning Balance
2/19/2013
2/28/2013

Prepaid Insurance
Date Particulars Ref
2/1/2013 Beginning Balance
2/28/2013

Land
Date Particulars Ref
2/1/2013 Beginning Balance

Building
Date Particulars Ref
2/1/2013 Beginning Balance

Accumulated Depreciation - Building

Date Particulars Ref
2/1/2013 Beginning Balance
2/28/2013

Equipment
Date Particulars Ref
2/1/2013 Beginning Balance

Accumulated Depreciation - Equipment

Date Particulars Ref
2/1/2013 Beginning Balance
2/28/2013

Accounts Payable
Date Particulars Ref
2/1/2013 Beginning Balance
2/2/2013
2/4/2013
2/8/2013
2/20/2013
2/24/2013
2/28/2013

Salaries Payable
Date Particulars Ref
2/1/2013 Beginning Balance
2/28/2013

Mortgage Payable
Date Particulars Ref
2/1/2013 Beginning Balance

Buenaflor, Capital
Date Particulars Ref
2/1/2013 Beginning Balance
2/28/2013 To close Income Summary
2/28/2013 Closing

Buenaflor, Withdrawals
Date Particulars Ref
2/1/2013 Beginning Balance
2/28/2013
2/28/2013 Closing

Income Summary
Date Particulars Ref
2/1/2013 Beginning Balance
2/28/2013
2/28/2013
2/28/2013
2/28/2013
2/28/2013 Closing

Sales
Date Particulars Ref
2/1/2013 Beginning Balance
2/5/2013
2/7/2013
2/16/2013
2/25/2013
2/28/2013 Closing

Sales Returns and Allowances

Date Particulars Ref
2/1/2013 Beginning Balance
2/10/2013
2/26/2013
2/28/2013 Closing

Sales Discount
Date Particulars Ref
2/1/2013 Beginning Balance
2/12/2013
2/23/2013
2/28/2013 Closing

Purchases
Date Particulars Ref
2/1/2013 Beginning Balance
2/4/2013
2/20/2013
2/24/2013
2/28/2013 Closing

Purchase Returns and Allowances

Date Particulars Ref
 2/1/2013 Beginning Balance
2/28/2013
2/28/2013 Closing

Purchase Discounts
Date Particulars Ref
2/1/2013 Beginning Balance
2/2/2013
2/8/2013
2/28/2013 Closing

Transportation In
Date Particulars Ref
2/1/2013 Beginning Balance
2/9/2013
2/24/2013
2/28/2013 Closing

Salaries Expense
Date Particulars Ref
2/1/2013 Beginning Balance
2/15/2013
2/28/2013
2/28/2013 Closing

Supplies Expense
Date Particulars Ref
2/1/2013 Beginning Balance
2/28/2013
2/28/2013 Closing

Insurance Expense
Date Particulars Ref
2/1/2013 Beginning Balance
2/28/2013
2/28/2013 Closing
 Depreciation Expense - Building
Date Particulars Ref
2/1/2013 Beginning Balance
2/28/2013
2/28/2013 Closing

Depreciation Expense - Equipment

Date Particulars Ref
2/1/2013 Beginning Balance
2/28/2013
2/28/2013 Closing

Transportation Out
Date Particulars Ref
2/1/2013 Beginning Balance
2/18/2013
2/28/2013 Closing

Advertising Expense
Date Particulars Ref
2/1/2013 Beginning Balance
2/7/2013
2/28/2013 Closing

Interest Expense
Date Particulars Ref
2/1/2013 Beginning Balance
2/14/2013
2/28/2013

Miscellanous Expense
Date Particulars Ref
2/1/2013 Beginning Balance
2/22/2013
2/28/2013 Closing
 Account No. 110
ash
Debit Credit Balances
33,000 33,000
113,000 146,000
62,080 83,920
6,000 77,920
250,000 327,920
164,900 163,020
4,000 159,020
196,000 355,020
26,000 329,020
51,000 278,020
4,000 274,020
21,000 253,020
7,000 246,020
384,160 630,180
9,000 621,180
400,000 221,180

Account No. 120

Receivable
Debit Credit Balances
192,000 192,000
113,000 79,000
270,000 349,000
70,000 279,000
200,000 79,000
392,000 471,000
392,000 79,000
420,000 499,000
71,000 428,000

Account No. 130

ise Inventory
Debit Credit Balances
413,000 413,000
413,000 -
397,000 397,000

Account No. 140

pplies
Debit Credit Balances
 51,000 51,000
21,000 72,000
58,000 14,000

Account No. 150

Insurance
Debit Credit Balances
48,000 48,000
2,000 46,000

Account No. 160

and
Debit Credit Balances
460,000 460,000

Account No. 170

lding
Debit Credit Balances
1,750,000 1,750,000

Account No. 175

preciation - Building
Debit Credit Balances
350,000 350,000
9,000 359,000

Account No. 180

pment
Debit Credit Balances
2,310,000 2,310,000

Account No. 185

eciation - Equipment
Debit Credit Balances
630,000 630,000
12,000 642,000

Account No. 210

ts Payable
 Debit Credit Balances
108,000 108,000
64,000 44,000
170,000 214,000
170,000 44,000
125,000 169,000
373,000 542,000
25,000 517,000

Account No. 220

s Payable
Debit Credit Balances
- -
51,000 51,000

Account No. 230

ge Payable
Debit Credit Balances
2,600,000 2,600,000

Account No. 310

or, Capital
Debit Credit Balances
1,569,000 1,569,000
288,180 1,857,180
400,000 1,457,180

Account No. 320

Withdrawals
Debit Credit Balances
- -
400,000 400,000
400,000 -

Account No. 330

Summary
Debit Credit Balances
- -
413,000 (413,000)
397,000 (16,000)
1,059,840 (1,075,840)
 1,364,020 288,180
288,180 -

Account No. 410

ales
Debit Credit Balances
- -
270,000 270,000
250,000 520,000
392,000 912,000
420,000 1,332,000
1,332,000 -

Account No. 420

and Allowances
Debit Credit Balances
- -
70,000 70,000
71,000 141,000
141,000 -

Account No. 430

Discount
Debit Credit Balances
- -
4,000 4,000
7,840 11,840
11,840 -

Account No. 510

chases
Debit Credit Balances
- -
170,000 170,000
125,000 295,000
373,000 668,000
668,000 -

Account No. 520

ns and Allowances
Debit Credit Balances
 - -
25,000 25,000
25,000 -

Account No. 530

e Discounts
Debit Credit Balances
- -
1,920 1,920
5,100 7,020
7,020 -

Account No. 540

ortation In
Debit Credit Balances
- -
4,000 4,000
9,000 13,000
13,000 -

Account No. 610

s Expense
Debit Credit Balances
- -
51,000 51,000
51,000 102,000
102,000 -

Account No. 620

s Expense
Debit Credit Balances
- -
58,000 58,000
58,000 -

Account No. 630

ce Expense
Debit Credit Balances
- -
2,000 2,000
2,000 -
 Account No. 640
xpense - Building
Debit Credit Balances
- -
9,000 9,000
9,000 -

Account No. 650

pense - Equipment
Debit Credit Balances
- -
12,000 12,000
12,000 -

Account No. 660

rtation Out
Debit Credit Balances
- -
4,000 4,000
4,000 -

Account No. 670

ng Expense
Debit Credit Balances
- -
6,000 6,000
6,000 -

Account No. 680

t Expense
Debit Credit Balances
- -
26,000 26,000
26,000 -

Account No. 690

ous Expense
Debit Credit Balances
- -
7,000 7,000
7,000 -
 UNADJUSTED TRIAL BALANCE
Code Particulars Debit
110 Cash 33,000
120 Accounts Receivable 192,000
130 Merchandise Inventory 413,000
140 Supplies 51,000
150 Prepaid Insurance 48,000
160 Land 460,000
170 Building 1,750,000
175 Accumulated Depreciation - Building
180 Equipment 2,310,000
185 Accumulated Depreciation - Equipment
210 Accounts Payable
220 Salaries Payabale
230 Mortgage Payable
310 Buenaflor, Capital
320 Buenaflor, Withdrawals
330 Income Summary
410 Sales
420 Sales Returns and Allowances
430 Sales Discounts
510 Purchases
520 Purchase Returns and Allowances
530 Purchase Discounts
540 Transportation In
610 Salaries Expenses
620 Supplies Expense
630 Insurance Expense
640 Depreciation Expense - Building
650 Depreciation Expense - Equipment
660 Transportation Out
670 Advertising Expense
680 Interest Expense
690 Miscellaneous Expense
5,257,000
ADJUSTED TRIAL BALANCE TRANSACTIONS/ADJUSTMENTS ADJUSTED TRIAL BALANCE
Credit Debit Credit Debit Credit
943,160 754,980 221,180
1,082,000 846,000 428,000
- - 413,000
21,000 58,000 14,000
- 2,000 46,000
- - 460,000
- - 1,750,000
350,000 - 9,000 359,000
- - 2,310,000
630,000 - 12,000 642,000
108,000 259,000 668,000 517,000
- 51,000 51,000
2,600,000 - - 2,600,000
1,569,000 - - 1,569,000
400,000 - 400,000
- -
- 1,332,000 1,332,000
141,000 - 141,000
11,840 - 11,840
668,000 - 668,000
- 25,000 25,000
- 7,020 7,020
13,000 - 13,000
102,000 - 102,000
58,000 - 58,000
2,000 - 2,000
9,000 - 9,000
12,000 - 12,000
4,000 - 4,000
6,000 - 6,000
26,000 - 26,000
7,000 - 7,000
5,257,000 3,765,000 3,765,000 7,102,020 7,102,020
 CLOSING POST-CLOSING TRIAL BALANCE
Debit Credit Debit Credit
- - 221,180
- - 428,000
397,000 413,000 397,000
- - 14,000
- - 46,000
- - 460,000
- - 1,750,000
- - 359,000
- - 2,310,000
- - 642,000
- - 517,000
- - 51,000
- - 2,600,000
400,000 288,180 1,457,180
- 400,000 -
1,761,020 1,761,020 - -
1,332,000 - -
- 141,000 -
- 11,840 -
- 668,000 -
25,000 - -
7,020 - -
- 13,000 -
- 102,000 -
- 58,000 -
- 2,000 -
- 9,000 -
- 12,000 -
- 4,000 -
- 6,000 -
- 26,000 -
- 7,000 -
3,922,040 3,922,040 5,626,180 5,626,180
 Buenaflor Comapany
Trial Balance
As of February 28, 2013

DEBIT CREDIT
Cash 221,180 -
Accounts Receivable 428,000 -
Merchandise Inventory 397,000 -
Supplies 14,000 -
Prepaid Insurance 46,000 -
Land 460,000 -
Building 1,750,000 -
Accumulated Depreciation - Building - 359,000
Equipment 2,310,000 -
Accumulated Depreciation - Equipment - 642,000
Accounts Payable - 517,000
Salaries Payabale - 51,000
Mortgage Payable - 2,600,000
Buenaflor, Capital - 1,569,000
Buenaflor, Withdrawals 400,000 -
Income Summary - -
Sales - 1,332,000
Sales Returns and Allowances 141,000 -
Sales Discounts 11,840 -
Purchases 668,000 -
Purchase Returns and Allowances - 25,000
Purchase Discounts - 7,020
Transportation In 13,000 -
Salaries Expenses 102,000 -
Supplies Expense 58,000 -
Insurance Expense 2,000 -
Depreciation Expense - Building 9,000 -
Depreciation Expense - Equipment 12,000 -
Transportation Out 4,000 -
Advertising Expense 6,000 -
Interest Expense 26,000 -
Miscellaneous Expense 7,000 -
7,102,020 7,102,020
 Buenaflor Comapany
Statement Of Financial Performance
For the month ended February 28, 2013
Note
Sales 1 1,179,160 Merchandise Inve
Less: Cost of Goods Sold 2 664,980 Purchases
Gross Profit 514,180 Less:
Less: Operating Expenses 3 226,000
Net Profit/Loss 288,180 Transportation In
Cost of Goods Ava
Less:
Cost of Goods Sol

Sales
Less:

Net Sales

Salaries Expenses
Supplies Expense
Insurance Expense
Depreciation Expe
Depreciation Expe
Transportation Ou
Advertising Expen
Interest Expense
Miscellaneous Exp
Operating Expens
 Note 1
Merchandise Inventory, beg. 413,000
Purchases 668,000
Purchase Returns and Allowances 25,000
Purchase Discount 7,020 32,020
Transportation In 13,000
Cost of Goods Available for Sale 1,061,980
Merchandise Inventory, end. 397,000
Cost of Goods Sold 664,980

Note 2
1,332,000
Sales Returns and Allowances 141,000
Sales Discount 11,840 152,840
Net Sales 1,179,160

Note 3
Salaries Expenses 102,000
Supplies Expense 58,000
Insurance Expense 2,000
Depreciation Expense - Building 9,000
Depreciation Expense - Equipment 12,000
Transportation Out 4,000
Advertising Expense 6,000
Interest Expense 26,000
Miscellaneous Expense 7,000
Operating Expense 226,000
 Buenaflor Comapany
Statement of Changes in Owner's Equity
For the month ended February 28, 2013

Buenaflor, Capital Beg. 1,569,000

Add: Profit/(Loss) 288,180
Total 1,857,180
Less: Buenaflor, Withdrawals 400,000
Buenaflor, Capital End 1,457,180
 Buenaflor Comapany
Statement Of Financial Position
As of February 28, 2013

Assets
Current Assets:
Cash
Accounts Receivable
Merchandise Inventory
Supplies
Prepaid Insurance
Total Current Assets

Noncurrent Assets:
Land
Building 1,750,000
Accumulated Depreciation - Building 359,000
Equipment 2,310,000
Accumulated Depreciation - Equipment 642,000
Total Noncurrent Assets

Total Assets

Liabilities and Owner's Equity

Current Liabilities:
Accounts Payable
Salaries Payabale
Total Current Liabilities

Noncurrent Liabilities:
Mortgage Payable
Total Noncurrent Liabilities

Total Liabilities

Owner's Equity:
Buenaflor, Capital
Total Owner's Equity

Total Liabilities and Owner's Equity

 221,180
428,000
397,000
14,000
46,000
1,106,180

460,000

1,391,000

1,668,000
3,519,000

4,625,180

517,000
51,000
568,000

2,600,000
2,600,000

3,168,000

1,457,180
1,457,180

4,625,180
 Buenaflor Comapany
Statement Of Cash Flows
For the month ended February 28, 2013

CASH FLOW FROM OPERATING ACTIVITIES

Net Income 288,180
Add Non-Cash Items:
Depreciation Expense- Building 9,000
Depreciation Expense- Equipment 12,000
Decrease in Supplies 37,000
Decrease in Merchandise Inventory 16,000
Decrease in Prepaid Insurance 2,000
Increase in Accounts Payable 409,000
Increase in Salaries Payable 51,000 536,000
Less Non - Cash Items:
Increase in Accounts Receivable (236,000)
Net Cash flow from Operating Activities 588,180

CASH FLOW FROM INVESTING ACTIVITIES

Cash Withdrawals (400,000)
Net Cash Flow from Investing Activities (400,000)

Net Increase/(Decrease) in Cash 188,180

Cash Balance - February 1, 2013 33,000
Ending Cash Balance 221,180
 Buenaflor Comapany
Post-Closing Trial Balance
As of February 28, 2013
DEBIT CREDIT
Cash 221,180 -
Accounts Receivable 428,000 -
Merchandise Inventory 397,000 -
Supplies 14,000 -
Prepaid Insurance 46,000 -
Land 460,000 -
Building 1,750,000 -
Accumulated Depreciation - Building - 359,000
Equipment 2,310,000 -
Accumulated Depreciation - Equipment - 642,000
Accounts Payable - 517,000
Salaries Payabale - 51,000
Mortgage Payable - 2,600,000
Buenaflor, Capital - 1,457,180
5,626,180 5,626,180