Questions:

1. What is the accounts receivable balance at December 31,2020?
2. How much was Starboys bad debts expense for the year ended December 31, 2020?

Show your solution clearly.

Starboy Company has the following data relating to accounts receivable for the year ended December 31, 2020: Accounts receivable, January 1, 2020 480,000 Allowance for doubtful accounts, January 1, 2020 19,200 Sales during the year, all on account, terms: 2/10, 1/15, n/30 2,400.000 Cash received from customers during the year 2,560,000 Accounts written off during the year 17,600 An analysis of cash received from customers during the year revealed that P1,411,200 was received from customers availing the 10-day discount period, P792,000 from customers availing the 15-day discount period, P4.800 represented recovery of accounts written off, and the balance was received from customers paying beyond the discount period. Starboy's year end balance of allowance for doubtful accounts was estimated to be 5% of the outstanding accounts receivable as at December 31, 2020, based on the aging of the accounts. What the balance acounts receivable as at December 31 20202