Problem $6-$ Excel Corporation

Excel Corporation's credit sales for different months and terms on credit sales are given below:

$\backslash$table$[[$Credit Sales,Credit Terms$],[$Jan $-$ P$100,000,50\%$ within the month of invoice$],[$Feb $-$ P$200,000,30\%$ within the month after$],[$Mar $-$ P$250,000,20\%$ within $2$ months after date of invoice$],[$May $-$ P$300,000,]]$

Prepare a collection schedule for January to July. Given that total payments received as of May $31$ amounted to $625,000,$ what should be the adjusting entry for bad debts, assuming that all scheduled receivables not received are considered bad debts. Use the allowance for uncollectible method of accounting for bad debts.