Solution/computation for this?

(Intermediate Accounting, Accounting Receivables)

Problem 4-13 (IAA) Wonder Company provided the following transactions affecting accounts receivable during the current year: Cash received from credit customers, all of whom Sales-cash and credit 5,900,000 3,024,000 2,100,000 50,000 250,000 took advantage of the discount feature of the credit terms 4/10,n/30 Cash received from cash customers Accounts receivable written off as worthless Credit memorandum issued to credit customers for sales returns and allowances Cash refunds given to cash customers for sales returns and allowances Recoveries on accounts receivable written off as uncollectible in prior periods not included in cash received from credit customers 20,000 80,000 Balances on January 1 Accounts receivable Allowance for doubtful accounts 950,000 100,000 The entity provided for uncollectible accounts by crediting allowance for doubtful accounts in the amount of P70,000 for the current year. 1. What amount should be reported as accounts receivable on December 31? a. 1,300,000 b. 1,426,000 c. 1,280,000 d. 1,220,000 2. What amount should be reported as allowance for doubtful accounts on December 31? a. 120,000 b. 200,000 c. 250,000 d. 170,000