The income before income tax of Meh Corporation for the year ended December 31, 2020 is P1,240,000 after considering the following:

• Interest income from bank deposit - P55,000
• Gain from sale of shares in a domestic corporation - P70,000
• Net capital loss - P25,000
• Write-off of inventories destroyed due to spoilage and/or expiry - P22,000
• Incremental depreciation on appraised value of property - P45,000
• Surcharge and compromise paid in relation to the late filing of ITR - P80,000
• Provision for doubtful accounts - P80,000

Accounts written-off during the year and charged to allowance for doubtful accounts was P65,000, all of which are allowed as deductions by the BIR. Recoveries on accounts receivable previously written off in 2018 and credited to allowance for doubtful accounts were as follows: (a) allowed as deduction by BIR - P30,000; and (b) disallowed as deduction by BIR, P20,000.

There were no allowances recorded on the destroyed inventories. The destruction of spoiled and/or expired inventory was attended by BIR representatives and has satisfactorily met all the requirements to be allowed as a deduction from gross income.

The total quarterly income tax paid during the year was P195,000.

Based on the information above, answer the following:

1. What is the accounting income subject to tax for the year ended December 31, 2020?
2. What is the income tax payable as of December 31, 2020?