Exercise 3-3 The adjusted trial balance of Thomas Company as of December 31, 2019 shows the following: Debit Credit Accounts Receivable P 1,000,000 Allowance for Doubtful Accounts P 40,000 Additional information: a. Cash sales of the company represent 10% of gross sales. Total sales amounted to P12,000,000. b. Ninety percent of the credit sales customers did not take advantage of the 2/10, n/30 terms. Total face value of accounts receivable collected during the year was P8,360,000. c. Sales returns in 2020 amounted to P400,000. All returns were from charge sales. d. During 2020, accounts totaling P40,000 were written off as uncollectible; bad debt recoveries during the year amounted to P3,000. 24 Percent uncollectible e. The allowance for doubtful accounts is measured as follows: Percentage of ending balance 60 20 12 5 3 Based on the information given, answer the following: 1. Accounts Receivable balance as of December 31, 2020 2. Allowance for Doubtful Accounts, December 31, 2020 3. Net realizable value, December 31, 2020 4. Doubtful Accounts Expense for 2020. 2 20 40 60 90