On October 1, 2020, Generosity Company declared a property dividend of machinery payable on April 1, 2021. The carrying amount of the machinery is P4,000,000 on October 1, 2020.The machinery had the following fair value: Oct. 1, 2020                      3,800,000 Dec. 31, 2020                   3,600,000 April 1, 2020                     3,500,000 What id the dividends payable and loss on distribution of property dividend?

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