Kulas 3,600 Juan 6,400 Natan 3,960 Janet 6,040 P30,000 12/31/2018: To record the doubtful accounts expense for the year ending December 31, 2018, computed as follows: Balance, 01/01/2018 P100,000 Accounts written off (30.000) Balance P 70,000 Provision for doubtful accounts 80,000 Balance, 12/31/2018 (P15Mx1%) P150,000 Doubtful accounts expense P80,000 Allowance for doubtful accounts P80,000 On January 10, 2019, P6,000 was received from Juan in settlement of his account. QUESTIONS Based on the above and the result of your audit, compute for the following: 1. The amount of trade Accounts receivable to be reported in the audited statement of financial position at December 31, 2018. a. P 1,660,000 C. P 1,408,000 b. P 1,402,000 d. P 1,400,000 2. The allowance for doubtful accounts to be reported in the audited balance sheet at December 31, 2018? a. P 223,000 C. P 151,000 b. P 229,000 d. P 221,000 3. The doubtful accounts expense to be reported in the audited income statement for the year ending December 31, 2018 is a. P 229,000 C. P 221,000 b. P 223,000 d. P 151,000 4. The net increase (decrease) in the ending inventory resulting from audit adjustment is a. P 72,000 C. P 60,000 b. P 132,000 d. No effect 5. The net increase (decrease) in net sales from audit adjustment is a. P 100,000 C. P 120,000 b. P (20,000) d. No effect