On December 31, 2016, RETAKE Company reported ending inventory of P3,000,000 and an allowance for inventory write-down before any adjustments of P150,000. The entity provided the following relevant information on December 31, 2016: Product 1 2 Cost 800,000 1,000,000 700,000 500,000 Replacement Cost 900,000 1,200,000 1,000,000 600,000 Sales price 1,200,000 1,300,000 1,250,000 1,000,000 NRV 550,000 1,100,000 950,000 350,000 Normal profit 250,000 150,000 300,000 300,000 3 4 What amount of loss on write-down is included in 2016 cost of goods sold? The following T-account summarizes the transactions affecting the accounts receivable of PASADOBA Company for 2020: Accounts Receivable Debits Credits Beg. Bal. after deducting credit bal. of P3,000 - Collections from customers, including P53,000 overpayment of P5,000 - P620,000 Charge sales - P625,000 Write offs - P3,500 Charge for goods out on consignment - P5,000 Merchandise return - P2,500 Shareholder's subscription - P30,000 Allowance to customers for shipping damages - P1,500 Accounts written off but recovered - P1,000 Collections on carrier claims - P1,000 Cash paid to customer for the Jan. 1 credit balance - P2,500 Deposit on contract - P15,000 Claim against common carrier for shipping damages - P1,500 TOUs from employees P500 Advances to supplier - P5,000 Compute for the correct balance of Accounts Receivable