Root Co. owns 40% of Crop, Inc.'s ordinary shares. On July 1, 20x2, Root Co. sells half of its investment in Crop shares for P800,000. The adjusted balances of the related accounts immediately before the sale are as follows: Investment in associate P2,400,000 Cumulative share in Crop's revaluation gains 1,000,000 Root retains significant influence over Crop after the sale. How much of the cumulative share in Crop's revaluation gains is derecognized on July 1, 20x2?

Answer rating: 100% (QA)

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