Accounts receivable AA Company provided the following information on December 31, 2023? Tax Base 3,500,000 Carrying amount 3,000,000 Property, plant and equipment 6,500,000 Estimated warranty liability 1,600,000 Deposits received in advance 1,400,000 5,000,000 0 0 The depreciation rates for accounting and taxation are 15% and 25% respectively. The deposits are taxable when received and warranty costs are deductible when paid. An allowance for doubtful debts of P500,000 has been raised against accounts receivable for accounting purposes but such debts are deductible only when written off as uncollectible. The tax rate is 30%. What amount should be reported as deferred tax asset on December 31, 20237 Answer: