Klimandres Incorporation reported the following receivables on December 31, 2018:

Accounts receivable, net of P520,000 allowance for doubtful accounts P3,840,000

Interest receivable 190,000

Notes receivable 4,000,000

Additional information:

The notes receivable comprised of the following:

P3,000,000 note dated March 31, 2018, with principal and 8% interest payable on March 31, 2019.

P1,000,000 note dated October 31, 2018, with principal and interest payable on October 31, 2019.

During 2019, sales revenue totaled P21,200,000, cash collected from customers amounted to P19,800,000, and P410,000 in accounts receivable were written off. All sales are made on credit basis.

Doubtful accounts expense is recorded at year-end by adjusting the allowance account to an amount equal to 10% of year-end accounts receivable.

19. What amount should be reported as interest income for 2019?

P80,000 c. P240,000

P60,000 d. P110,000

20. What amount should be reported as doubtful accounts expense for 2019?

P410,000 c. P425,000

P110,000 d. P535,000