Smallville Company provided the following historical income statement date for

2020

Sales 5,000,000.00

Inventory - January 1 350,000.00

Purchases 2,500,000.00

Inventory - December 31 500,000.00

Expenses 2,000,000.00

Depreciation 2,000,000.00

Sales are earned and expenses are incurred evenly throughout the year, Inventory was acquired during the ast week of each year Depreciable assets have a 5-year ife and a residual value of Php500,000 which were acquired on January 1, 2019 The index numbers are 125 on January 1 , 2019, 140 on January 1, 2020, and 360 on December 31, 2020.

125,000.00

180,000.00

500,000.00

720,000.00

None of the above

If the balance of theaccounts receivable accounts amounted to Php10% of 2020 4th quarter sales, how much is
the restated accounts receivable balance in the statement of financial position as of December 31 2020?