1, Aljon Company reported the following as of December 31, 2021: Accounts receivables P100,000 Notes receivables 80,000 Allowance for doubtful accounts 27,000 Installment receivables (normally receivable within 1 to 3 years) 150,000 Customers credit balances 20,000 Suppliers debit balances 10,000 Advances to subsidiaries 35,000 Advances to suppliers 30,000 Advances to affiliates 40,000 Security deposit 85,000 Subscriptions receivable 22,000 How much is the total trade receivables as of December 31, 2021?

2.Faith Company sold the following goods on account, and were not yet collected as of December 31, 2021: On December 24, 2021, goods were sold for P20,000, 2/10 n/30 on FOB shipping point, freight prepaid . The goods were still in transit to the customer as of December 31, 2021. The shipping costs amounted to P1,000. On December 5, 2021, goods were sold for P50,000, 2/15 n/30 on FOB destination, freight collect. The goods were received by the customer on December 21, 2021. The shipping costs amounted to P2,500. On December 25, 2021, goods were sold for P100,000, 10/5 n/20 on FOB destination, freight prepaid. The goods were received by the customer on January 7, 2021. The shipping costs amounted to P5,000. Assuming Faith uses the net method to record its sales and receivables, how much is the accounts receivable as of December 31, 2021?

3. Errol Company estimates its allowance for doubtful accounts using percentage of sales method. The total sales of the company for 2021 amounted to P10,000,000, P3,000,000 of which are sold for cash. Errol determined that 12% is an appropriate estimate of bad debts expense. Errol also provided the following information: Write-offs during the period amounted to P500,000 Allowance for doubtful accounts at the beginning of 2021 amounted to P285,000 Recoveries of amounts previously written-off amounted to P120,000 The accounts receivable as of December 31, 2021 is P5,000,000 How much is the allowance for doubtful expense account as of December 31, 2021?