Problem 2 Dedpul Company provided the following transactions affecting accounts receivable during the current year: Sales (cash and credit) P5.900.000 Cash received from credit customers, all of whom took advantage of the discount 3.024,000 feature of the credit terms 4/10. n/30 Cash received from cash customers 2,100,000 Accounts receivable written off as worthless 50,000 Credit memorandum issued to credit customers for sales returns and allowances 250,000 Cash refunds given to cash customers for sales returns and allowances 20.000 Recoveries on accounts receivable written off as uncollectible in prior periods not 80,000 included in cash received from customers stated above The balances on January 1 were as follows: Accounts receivable P950,000 Allowance for doubtful accounts 100.000 The entity provided for uncollectible account losses by crediting allowances for doubtful accounts in the amount of P70,000 for the current year. What is the balance of the net realizable value of accounts receivable on December 31? Problem 3 On April 1. 2020, Ironmon Company discounted with recourse a 9-month 10% note dated January 1, 2020 with face of P6.000.000. The bank discount rate is 12%. The discounting transaction is accounted for as a conditional sale. On October 1, 2020, the maker dishonored the note receivable. The entity paid the bank the maturity value of the note plus protest fee of P50,000. On December 31, 2020, the entity collected the dishonored note in full plus 12% annual interest on the total amount due. What is the total amount collected from the customer on December 31, 2020