The following accounts and their balances appear in an unadjusted trial balance of Hydro Company as of December 31, 2019. Cash, P40000; Accounts receivable, P200000; Inventory, P50000; Accounts...

The following accounts and their balances appear in an unadjusted trial balance of Hydro Company as of December 31, 2019.


Cash, P40000;  Accounts receivable, P200000;  Inventory, P50000;  Accounts payable, P30000;  Notes payable, P20000.


· The cash account includes collection in January 2020 of P20000 account from customer who was given a cash discount of P1000.


· It also includes a January 2020 cash sale of P5000.  Gross profit on the sale was 40%.


·  From the amount collected, the company fully paid a bank loan of P10000 with interest of P2000 accruing January 2020.




What is the correct amount of working capital on December 31, 2019?