Gruesome Company provided the following information for the current year: Allowance for doubtful accounts on January 1 200,000 Credit sales 5,000,000 Accounts receivable deemed worthless and written off 300,000 As a result of a review and aging of accounts receivable, it has been determined that an allowance for doubtful accounts of P400,000 is needed on December 31. What amount should be recorded as doubtful accounts expense for the current- year?