4 . By arresto mayor in its maximum period, if such amount does not exceed 200 pesos, provides that in the four cases mentioned, the fraud be committed by any of the following means: x x x. th In the case of People v. Gabres,[36] the Court had occasion to so state that Under the Indeterminate Sentence Law, the maximum term of the penalty shall be that which, in view of the attending circumstances, could be properly imposed under the Revised Penal Code, and the minimum shall be within the range of the penalty next lower to that prescribed for the offense. The penalty next lower should be based on the penalty prescribed by the Code for the offense, without first considering any modifying circumstance attendant to the commission of the crime. The determination of the minimum penalty is left by law to the sound discretion of the court and it can be anywhere within the range of the penalty next lower without any reference to the periods into which it might be subdivided. The modifying circumstances are considered only in the imposition of the maximum term of the indeterminate sentence. The fact that the amounts involved in the instant case exceed P22,000.00 should not be considered in the initial determination of the indeterminate penalty; instead, the matter should be so taken as analogous to modifying circumstances in the imposition of the maximum term of the full indeterminate sentence. This interpretation of the law accords with the rule that penal laws should be construed in favor of the accused.Since the penalty is prision correccional maximum to prision mayor minimum, the penalty next lower would then be prision correccionalminimum to medium. Thus, the minimum term of the indeterminate sentence should be anywhere within six (6) months and one (1) day to four (4) years and two (2) months x x x. [37] In People v. Saley[38] the Court further added that, in fixing the maximum term, the prescribed penalty of prision correccional maximum period toprision mayor minimum period should be divided into three equal portions of time, each of which portion shall be deemed to form one period; hence Minimum Period From 4 years, 2 months and 1 day to 5 years, 5 months and 10 days Medium Period From 5 years, 5 months and 11 days to 6 years, 8 months and 20 days Maximum Period From 6 years, 8 months and 21 days to 8 years in consonance with Article 65[39] in relation to Article 64[40] of the Revised Penal Code. When the amount involved in the offense exceeds P22,000.00, the penalty prescribed in Article 315 of the Revised Penal Code shall be imposed in its maximum period, adding one year for each additional P10,000.00 although the total penalty which