2-XOX Company began the current year with accounts receivable of Php 1,000,000.00 and allowance of doubtful accounts of Php 80,000.00. During the current year, the following events occurred: Accounts written off 120,000.00 Cash Sales 500,000.00 Sales on Account 3,000,000.00 Doubtful Accounts expense recognized 200,000.00 At the end of the current year, the entity showed a balance accounts receivable of Php 1,680,000.00 Under cash basis, what amount should be reported as sales? Please show your solution