Relay Company estimates the allowance for uncollectible accounts at 3% of the ending balance of accounts receivable. During 2021, Relay's credit sales and collections were P125,000 and P131,000, respectively. What was the balance of accounts receivable on January 1, 2021, if P180 in accounts receivable were written off during 2021 and if the allowance account had a balance of P750 on December 31, 2021? O P5,820 O P31,000 P31,180 O P25,000