On December 01, 2021, SEVENTY-SEVEN Corporation declared equipment with carrying amount of P1,300,000 as property dividend to be distributed on January 31, 2022. The equipment had the following fair value on the following dates: December 01, 2021               1,500,000 December 31, 2021               1,600,000 January 31, 2022                   1,900,000   Journal entry on December 31,2021 should include credit to:

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