A business has Cash of P 3,000, Notes Payable of P 2,500, Accounts Payable of P 4,300, Service Revenue of P 7,000, and Rent Expense of P 1,800. On the basis of these data, how much are its total...

A business has Cash of P 3,000, Notes Payable of P 2,500, Accounts Payable of P 4,300, Service Revenue of P 7,000, and Rent Expense of P 1,800. On the basis of these data, how much are its total liabilities? *

A. P 5,500

B. P 6,800