Dibiasky Corporation is a trading company based in Laguna

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Dibiasky Corporation is a trading company based in Laguna. The auditor in charge for 2020 audit is examining the company's liabilities as part of their procedures. The following accounts as of December 31, 2020 are relevant in the tests being performed by the auditor:

Accounts payable

1. The balance in the company's accounts payable account as of December 31, 2020 is P600,000 and this was before any necessary year-end adjustments relating to the following:

a) On December 31, 2020, the company has a P50,000 debit balance in its accounts payable to Mindy, a supplier, resulting from a P50,000 advance payment for goods ordered by the company.

b) On December 28, 2020, the company purchased and received goods for P40,000, terms 2/10, n/30. The company records purchases and accounts payable at net amounts. The invoice was recorded and paid January 3, 2021.

c) Goods were in transit to the company from a vendor on December 31, 2020. The invoice cost was P50,000. The goods were shipped f.o.b. shipping point on December 29, 2020 and were received on January 4, 2021.

d) Goods shipped f.o.b. destination on December 21, 2020 from a vendor to the company were received on January 6, 2021. The invoice cost was P25,000.

e) Goods shipped to company, f.o.b. shipping point on December 20, 2020, from a vendor were lost in transit. The invoice price was P20,000. On January 5, 2021, the company filed a P20,000 claim against the common carrier.

f) On December 27, 2020, the company wrote and recorded checks to creditors totaling P30,000 that were mailed on January 10, 2021.

g) Checks in the amount of P25,000 were written to vendors and recorded on December 29, 2020. The checks were dated January 5, 2021.

Other payable

2. The company pays all its salaried employees on a biweekly basis. Overtime pay, however, is paid in the next biweekly period. The company accrues salaries expense only at its December 31 year end. Data relating to salaries earned in December 2020 are as follows:

a. Last payroll was paid on 12/26/20, for the 2-week period ended 12/26/20.

b. Overtime pay earned in the 2-week period ended 12/26/20 was P5,000.

c. Remaining workdays in 2020 were December 29, 30, 31, on which days there was no overtime.

d. The recurring biweekly salaries total P90,000.

e. The company employs a five-day work week.

3. The company accrues for advertising and rent expenses at year-end. A P2,000 advertising bill was received January 7, 2021. It related to costs of P1,500 for advertisements in December 2020 issues and P500 for advertisements in January 2, 2021 issues of the newspaper. A store lease, effective December 16, 2019, calls for fixed rent of P4,800 per month payable 1 month from the effective date and monthly thereafter. In addition, rent equal to 5% of net sales over P1,200,000 per calendar year is payable on January 31 of the following year. Net sales for 2020 were P2,200,000.

Note payable

4. On September 1, 2019, the company borrowed on a P1,350,000 note payable from the bank. The note bears interest at 12% and is payable in three equal annual principal payments of P450,000. On this date, the bank's prime rate was 11%. The first annual payment for interest and principal was made on September 1, 2020.

Based on the above and the result of your audit, determine the following:

1. Adjusted accounts payable as of December 31, 2020?

2. Adjusted trade and other payables as of December 31, 2020?

3. The amount of note payable to be reported as part of current liabilities as of December 31, 2020, is?