KFC Company is engaged in the sale of various home and office furnishings. It caters to both cash and credit customers. The following transactions affecting the accounts receivables of KFC Company took place during the year 2018: Sales (cash and credit) P 591,050 Cash received from cash customers 205,175 Cash received from credit customers (P281,300 was received from customers who took advantage of the discount feature of the company's credit terms 3/10, n/30) 320,800 Accounts written off as worthless 4,955 Credit memoranda issued to credit customers for sales returns and allowances 26,275 Cash refunds given to cash customers for sales returns and allowances 16,972 Recoveries on accounts written off as uncollectible in prior periods (not included in cash collections stated above) 6,615 An aging of the receivables indicates that P17,300 of the accounts receivable balance are deemed uncollectible. The following balances were taken from the December 31, 2017 statement of financial position: Accounts Receivable P 95,842 Allowance for doubtful accounts 9,740 Questions: 21. What are the balances of Accounts Receivable and Allowance for Doubtful Accounts that would be shown in the December 31, 2018 statement of financial position? a. P120,987 and P17,300 C. P120,987 and P9,740 b. P120,987 and P11,400 d. P120,987 and P5,900 22. What is the amount of Doubtful Accounts Expense reported in profit or loss for the year ended December 31, 2018? a. P17,300 b. P11,400 C. P9,740 d. P5,900