Fellow Co.

operates a retail grocery store that requires to collect refundable deposits

of P5 on soda cans. Information for the current year follows: Liability for refundable
deposit-January 1,-P150,000 Cans of soda sold-100,000 Soda cans returned-110,000
On February 1, Fellow subleased space and received a P25,000 deposit to be applied
against rent at the expiration of the lease in 5 years. In the December 31 statement of
financial position, what amount should reported as a current liability for deposit?
Single line text.

(5 Points)