In connection with your examination of the financial statements ofHELLO KITTY Inc. for the year ended December 31, 2019, you were able to obtain certain information during your audit of the accounts receivable and related accounts. *The December 31, 2010 balance in the Accounts Receivable control accounts is PS37,900. . An aging schedule of the accounts receivable as of December 31, 2010 is presented below: Net debit Percentage to be applied after Aging Balance correction have been made 60 days & under P367,800 1 percent 61 to go days 307,100 2 percent 91 to 120 days 89.800 5 percent Over 120 days 53.200 Definitely uncollectible, Po.ooofthe remainder is estimated to be 25% uncollectible. P837.900 . The Allowance for Doubtful Accounts schedule is presented below: Debit Credit Balance January 1, 2019 P19.700 November 30, 2019 P6,100 13.600 December 31, 2019 (PS37,900 x 596) P41,895 P55 495 . Entries made to Doubtful Accounts Expense account were: 1. A debit on December 31 for the amount of the credit to the Allowance for Doubtful Accounts. 2. A credit Or P6,100 on November 30, 2015, and a debit to Allowance for Doubtful Accounts because of a bankruptcy. The related sales took place on October 1, 2015. . There is a credit balance in one account receivable (61 to go days) of Pu,ooo; it represents an advance on a sales contract