Extracted text: 31, 20x1 Requirement: Provide the journal entry on Nov. 14, 20x1. Offsetting of financial assets and financial liabilities 5. On Nov. 14, 20x1, Athena Co. sold its P30,000 loan receivabl 6. On December 31, 20x1, Twinkle Co. has accounts receivable because the credit term for the accounts payable is one month longer than the accounts receivable, Twinkle Co. intends to currently. Twinkle Co. has the legal right of offset. However, P200,000 and P180,000, respectively. Both accounts are due from, and accounts payable to, Star, Inc. amounting to Requirements: Provide compute for the interest income in 20x2 from Zevrek Co. to Devin Bank for P28,000. The future date for P28,000 plus interest based on the curre agreement requires Athena Co. to repurchase the loan at Evaluation of transfers of financial assets market rate on repurchase date. Offsetting of financial assets and financial liabilities from, and accounts payable to, Star, Inc. amountine P200,000 and P180,000, respectively. Both accounts a because the credit term for the accounts payable is one mond longer than the accounts receivable, Twinkle Co. intende collect first the accounts receivable and pay the accounts payable at the end of the credit term. Requirement: How much accounts receivable shall be presented in Twinkle's December 31, 20x1 statement of financial position?