8.) The financial statements of Katherine Company included the following information for 2013: January 1 December 31 Accounts receivable 1,200,000 Allowance for doubtful accounts 60,000 Sales 8,000,000 Cash collected from customers 7,000,000 The cash collections included a recovery of P10,000 from a customer whose account had been written off as worthless customers' accounts of P30,000. On December 1, 2013, a customer sttled an account by issuing a 12%, six-month note for P400,000. What is the net realizable value of accounts receivable on December 31, 2013? a. 1,640,000 b. 1,670,000 C. 1,780,000 d. 1.630.000