Question: Use the following data for the next two (2) questions: JJ is a real estate dealer. During the month of October 2023, he sold three

Use the following data for the next two (2) questions: JJ is a real estate dealer. During the month of October 2023, he sold three (3) commercial lots under the following terms: Lot 1 Lot 2 Lot 3 Selling Price P250,000 P200,000 P300,000 Cost 150,000 130,000 175,000 Gain/Loss 100,000 70,000 125 000 Terms Down, Oct. 5, 2023 25,000 50,000 40,000 Due: Dec. 5, 2023 25,000 20,000 20,000 Year 2023 200,000 130,000 240,000 Zonal Value 2023 350,000 260,000 250,000 139. How much is the output tax for October 2023? P26,500 C. P31,800 b. P34,800 d. P40,200 Answer: D 140. How much is the output tax for December 2023? P5,400 C. P6,600 d. P4,500 d. none Answer: C Lot 2 Lot 3 TOTAL Ratio 20% 35% 20% 20% Type of Sale Installment Deferred Sale Sale

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