AMNESTY PARDON Co. is currently preparing its combined financial statements. At December 31, 20×1, the home office shows a ₱624,000 balance in its “Investment in branch” account while the branch showed a ₱280,800 balance in its “Home office” account. The following information has been gathered:
        (a) The home office shipped merchandise worth ₱80,000 to the branch during December 20×1 which the latter has received and recorded only in January 20×2.
        (b) The home office collected ₱40,000 accounts receivable on behalf of the branch. The branch did not yet receive the credit memo sent by the home office.
        (c) The branch returned damaged merchandise worth ₱120,000 to the home office. The home office did not yet receive the debit memo sent by the branch.
        (d) A remittance of cash collections amounting to ₱160,000 was not yet recorded by the home office.
        (e) The home office allocated overhead cost of ₱20,000 to the branch which the latter has recorded twice.
        (f) Freight charge of ₱48,000 paid by the home office for shipments of merchandise to the branch was recorded by the latter as ₱4,800.

How much is the adjusted balance of the “home office” account? (Complete solution please)