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How will payment be applied to the debts

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Question - A owes B P 1,000,000.00 by way of loan, P 2,000,000.00 for a car he bought from the, and P500,000.00 for unpaid medical services. At this date, A only has properties amounting to P3,000,000.00. All debts are due and demandable at this date. If A pays B the whole P3,000,000.00, how will payment be applied to the debts? Explain your answer fully.

Reference no: EM133162945

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