The adjusted trial balance of Lalisa Company as of December 31, 2019 shows an Account Receivable balance of P1,500,000 and an allowance for bad debts of P50,000. Cash sales of the company represent 15% of gross sales. Total sales in 2020 amounted to P13,000,000. The total face value of accounts receivable collected during the year was P9,300,000. Sales returns in 2020 amounted to P350,000. During 2020, accounts totaling P75,000 were written off as uncollectible.

Based on the information given, determine the Accounts Receivable balance as of December 31, 2020.

a. P2,850,000

b. P2,825,000

c. P2,900,000

d. P1,325,000