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What the unamortized franchise cost at december

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Drama Company, which was organized in 2019, has only one account for all its Intangibles. The following are the entries made to the account for the years 2019 and 2020:

DATE                                    PARTICULARS                                                                               AMOUNT
07.01.2019             Franchise expiring on June 30, 2027                                           P 252,000
10.01.2019    Advance payment on lease expiring on October 1, 2021                             168,000
12.31.2019 Net loss in 2019 including incorporation fee of P 6,000 and org.cost, P30,000   96,000
01.02.2020     Acquired Patent with useful life of 10 years                                           444,000
03.01.2020          Cost of developing secret formula                                                       450,000
04.01.2020              Goodwill purchased                                                                   1,670,400
07.01.2020     Legal fees for successful defense of Patent                                                 75,900
10.01.2020  Research and development costs on new project

Problem 1: The unamortized franchise cost at December 31, 2020?

Reference no: EM132778187

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