The financial statements of ABC Company reported the following selected accounts:

Accounts receivable, Jan. 1, 2020 P1,200,000

Allowance for doubtful accounts, Jan. 1, 2020 60,000

Sales during 2020 10,000,000

Cash collected from customers 8,270,000

The cash collected from customers included a P20,000 recovery from a customer whose account was written off in prior year. On Nov. 15, a customer settled his overdue account by issuing a 15%, 4month note for P400,000. During 2020, accounts of P100,000 were written off as worthless. Analysis of the accounts receivable at December 31, 2020 revealed that P600,000 were considered past due. Management estimate of probable loss on past due accounts is 20% and on current accounts at 5%.

Required: Determine the (a) Accounts receivable as of December 31, 2020, (b) Adjusted allowance for doubtful accounts, (c) Doubtful accounts expense, and (d) Net realizable value as of December 31, 2020.