On October 31, 2015, An Inc engaged in the following transactions: [1] Obtained a P500,000, 6-month loan from City Bank, discounted at 12%. The company pledged P500,000 of accounts receivable as security for the loan. [2] Factored P1,000,000 of accounts receivable without recourse on a non-notification basis to Los Inc. which charged a factoring fee of 2% of accounts receivable factored and withheld 10% of the A/R factored. What is the total cash received from the financing of receivables? a. P1,320,000 b. P1,350,000 c. P1,380,000 d. P1,470,000 At the end of its first year of operations, December 31, 2020, ABC. had accounts receivable of P6,000,000, net of the related allowance for doubtful accounts. During 2020, ABC recorded charges to bad debt expense of P900,000 and wrote off P200,000 of uncollectible accounts receivable. On December 31, 2020, how much report as accounts receivable before the allowance for doubtful accounts? a. P6,000,000 b. P6,200,000 c. P6,700,000 d. P7,100,000