How much is the bad debt expense for 2018?What is the net realizable value of accounts receivable for December 31, 2018?What is the balance of Inventory as of december 31, 2018?How much is the estimated inventory fire loss from the explosion?

In the evening of December 31, 2018, an explosion destroyed the whole warehouse of your client, KABOOM Corporation, before an inventory count can be conducted. You are now tasked to ascertain the loss from the incident. To aid you in determining such loss, you reviewed the following relevant accounts: Accounts Receivable The beginning balance of your client's accounts receivable is P3,545,000. On January 3, 2019, the replies from the confirmation requests sent to the six (6) customers with outstanding balances were received. The December 31, 2018 balance being confirmed is P4,300,000, and the replies are noted as follows: Customer Per Ledger Per Reply Difference Posporo, Inc. 1,254,600 1,204,600 50,000 Apoy Company 222,000 202,000 20,000 Fireworks Corporation 894,400 894,400 Sindi Corporation 169,000 169,000 Leebang Co. 760,000 760,000 Pfft Ltd. 1,000,000 1,000,000 You were able to ascertain that the difference between the amount per ledger and amount per reply for both Posporo and Apoy were due to shipments made on December 30, 2018 recorded as sales. The term for the sales is FOB Destination and are still in transit as of December 31, 2018. The entity has been consistent in using its gross profit rate of 30%. Collection of accounts receivable for 2018 total to P9,005,600. Allowance for Bad Debts In your client's trial balance, the unadjusted balance of allowance for bad debts is P59,205. This includes the interim provision of bad debts expense based on 1% of the interim credit sales of P7,000,000, and a write-off for P99,420. The entity is consistent in using percentage of accounts receivable in estimating its uncollectible accounts. You ascertained that this method, and the percentage used by your client (which is unchanged) is reasonable. Inventory The January 1, 2018 balance of KABOOM's inventory is P947,750. Purchases for the year total P8,700,000, and purchase discounts total P110,000. On January 2, 2019, goods purchased costing P80,000 were received and were temporarily put in an open space in the administrative building. KABOOM recorded the purchase upon receipt of the goods. These goods were shipped by the suppliers in 2018 FOB shipping point. Cash Sales, Sales Returns, and Sales Discounts Cash sales for the period total to P1,360,900. Actual sales returns for 2018, all from sales on account, total to P289,500; while sales discounts total to P450,400. An estimate of 1% of gross credit sales will be returned in 2019