1. Vienna Company provided the following information at the current year-end:

Cash in bank, per bank statement .. . 200,000 Petty cash fund ... 3,000 Commercial paper with maturity of 2 months ... 55,000

Customer postdated checks . 14,000

Plant expansion fund .. 150,000 Bond sinking fund (Bonds are due in 5 months) . 120,000 Cash fund for payment of salaries . 200,000 Sales ... 4,250,000

Sales returns and allowance .. 140,000 Accounts receivable .. 430,000

Allowance for doubtful accounts before adjustment - debit balance. 7,600

Deposit in transit and outstanding checks were P80,000 and P55,000 respectively at year-end. The entity estimated that 10% of the accounts receivable balance will be uncollectible.

1) What amount of cash and cash equivalent should be reported on December 31, 2023?

2) What is the doubtful accounts expense for the current year?