Index Company showed the following information related to the accounts receivable in order to estimate bad debts through the use of the aging. The credit period of the company is 30 days on the average. Age of Receivables under 30 days 31-60 days Amount P4,000,000 1,500,000 61-90 days 91-120 days 1,000,000 500,000 121-150 days 200,000 151-180 days 100,000 The company based on experience has the following percent of collectibility: Accounts which are overdue for less than 30 days 97% Accounts which are overdue 31-60 days 90% Accounts which are overdue 61-90 days 75% Accounts which are overdue 91-120 days 55% Accounts which are overdue 121-150 days 30% Accounts which are overdue for over 150 days 25% What is the net realizable value of accounts receivable?