7,16 9 Year Year-end receivables 0-30 days 31-60 days 61-90 days 2010 7,800,000 3% 9% 17.40% 5. 2009 7,500,000 5 8 18.0 2008 6,800,000 4. 11 19.0 2007 6,900,000 4 10 19.8 2006 7,200,000 2 11 17.8 The unadjusted allowance for doubtful accounts on December 31, 2020 is P300,000. What is the correct balance of the allowance for doubtful accounts based on the average loss experience of the entity for the last 5 years? The average rate is determined by adding all the rates for each category divided by 5