On December 31, 2019, Riot Company had an unadjusted credit balance of P10,000 in its allowance for doubtful accounts. An analysis of Riots trade accounts receivable at that date revealed the following: Age Amount Estimated collectible 0 30 days P600,000 95% 31 60 days 40,000 90% Over 60 days 20,000 P6,000

What amount should Riot report as allowance for doubtful accounts and doubtful accounts in its December 31, 2019 statement of financial position?